Dear Sir, please advice whether Section 56(2)viib will applicable if a close held company issue its shares to venture capital company/ venture capital fund at more then FMV.
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Section 56(2)viib
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56(2)(viia) applicable only when shares are transferred with out consideration or with out adequate consideration and more over its not applicable in cases of ventures
Please also advice whether a closed held company can calculate its book value of shares as per Rule 11 UA by DCF Method.
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