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No coercive action against the Start up companies

notification no. 63/2019

The Central Board of Direct Taxes (CBDT) has directed all the Principal Chief Commissioners of Income Tax, not to take coercive measures to recover the outstanding demand if additions have been made by the Assessing Officer under Section 56(2)(viib) of the Income tax act, 1961 after modifying / rejecting the valuation so furnished under Rule 11UA(2) of the Income tax rules, 1962.

 

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