Imputed interest computed on deemed loan resulting from issue of equity shares less than the fair market value is not legally sustainable

Brief about case

The assessee was 100% Indian subsidiary of BHW Holding AG (BHW Germany) and was engaged in the business of providing loans to retail customers for the construction or purchase of residential properties in India. There were three international transactions that were reported by the assessee in Form No.3CEB. One such transaction was of “Receipt of share application money” with the transacted value of Rs.53,30,96,400/- being the subject matter of present dispute. On a referen

Please become a Premium member. If you are already a Premium member, login here to access the full content.