TAJSHREE AUTOWHEELS PRIVATE LIMITED,NAGPUR vs. ACIT CIRCLE-4, NAGPUR
In the result, assessee’s appeal is allowed for statistical purposes
ITA 400/NAG/2024[2014-15]Status: DisposedITAT Nagpur04 Mar 2025AY 2014-15
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
For Appellant: Shri Madhav VichoreFor Respondent: Shri Abhay Y. Marathe
Section 56(2)Section 56(2)(viib)
viib) require that in case of closely held company, the shares should be issued at its fair market value to resident investors based on notified valuation formula by a notified expert.
11. That the provisions of section 56(2) and section 68
