ITAT says no to addition of Rs 115 crore to RAW Pressery Income by I-T

The income tax department had questioned fund infusion in the company by private equity investors, Sequoia Capital India Investments and Saama Capital India Ltd, terming the valuation report submitted by RAW Pressery as unreliable. Tax authorities observed that the company's financials did not justify the high valuation at which the infusion was made.

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