CBDT: Takes note of start-ups' tax woes, instructs no 'coercive' recovery in Sec. 56(2) (viib) cases

Feb 06,2018

CBDT gives partial relief to start-ups (as defined in DIPP notification), instructs field officers not to take coercive measures to recover outstanding demand in cases where additions have been made u/s 56(2)(viib) of Income-tax Act; CBDT observes that it has noted instances of additions being under the said section in the cases of start-ups who have otherwise raised "genuine investments" but where however the AOs have disregarded the valuation reports submitted b...


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