Case Law Details
Case Name : Brajbhumi Nirmaan Private Limited Vs ITO (ITAT Kolkata)
Related Assessment Year : 2015-16
Courts :
All ITAT ITAT Kolkata
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Brajbhumi Nirmaan Private Limited Vs ITO (ITAT Kolkata)
In Brajbhumi Nirmaan Pvt. Ltd. (AY 2015-16), the AO taxed ₹10.21 Cr as excess share premium u/s 56(2)(viib) by rejecting the assessee’s DCF valuation and substituting it with NAV based on book values. The assessee had issued shares at ₹189.40 per share supported by a DCF valuation report for a real estate project funded by existing promoters.
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