Historical Angel Tax Scrutiny in Raipur

Section 56(2)(viib) Practice Considerations in Raipur

For startups and closely held companies in Raipur, the Section 56(2)(viib) computation under Rule 11UA(2) interlocks with three local touchpoints: assessing-officer charge under ITAT Raipur appellate jurisdiction, AD-bank reporting under SBI Raipur and Axis/HDFC corporate desks at Raipur and Bhilai cover most ODI/FDI documentation; mineral-sector exporters often add Mumbai AD branches, and the FEMA pricing regime where any non-resident subscriber is on the cap table. Stamp duty on the underlying allotment instruments follows the Raipur schedule — 0.15% of authorised capital on MOA (Chhattisgarh Stamp Schedule) — which adds up materially on large authorised-capital rounds.

Raipur is the capital of Chhattisgarh, the largest steel-trading and rice-milling hub in central India, and hosts the Naya Raipur SEZ. ITAT Raipur and the Chhattisgarh High Court at Bilaspur jointly anchor the state's tax-litigation ecosystem.

The economic mix of the wider region around Raipur runs across rice-mills cluster, steel (Bhilai Steel Plant, Raipur sponge-iron belt), cement — sectors that consistently dominate the regulatory case-load and the profile of the engagements we field from this jurisdiction. Notable industrial enclaves include Naya Raipur SEZ, Sirgitti Industrial Area Bilaspur. On the AD-Bank side, SBI Raipur and Axis/HDFC corporate desks at Raipur and Bhilai cover most ODI/FDI documentation; mineral-sector exporters often add Mumbai AD branches.

Chhattisgarh produces about a fifth of India's crude steel and a quarter of its coal output, and the Industrial Policy 2024-30 offers up to 100% net SGST reimbursement for mega units.

Choice of Valuation Method — Raipur Sector Context

For companies in heavy-asset sectors prevalent in Raipur (e.g. steel (Bhilai Steel Plant, Raipur sponge-iron belt)), an NAV cross-check is essential because the DCF and NAV will diverge, and the assessing officer typically anchors on whichever lower figure supports a Section 56(2)(viib) addition.

Recent Assessment Patterns under ITAT Raipur

From our practice across ITAT Raipur appeals, the most common reasons that 56(2)(viib) additions are made — and either survived or struck down on appeal — are: (a) inadequate documentation of the projected cash-flow assumptions (Income Tax Officer challenge under Rule 11UA(2)(b) explanation); (b) absence of comparable-company cross-check in the valuation report (a soft requirement under best-practice but heavily relied on by CIT(A)); (c) cap-table inconsistency with the FC-GPR filing where a non-resident is on the round — this triggers parallel FEMA enquiry and erodes the 56(2)(viib) defence.

FEMA Pricing Interaction for Raipur Cap Tables with Non-Residents

For Raipur-based companies, the AD-bank channel becomes the operational reporting loop: typically SBI Raipur and Axis/HDFC corporate desks at Raipur and Bhilai cover most ODI/FDI documentation.

Engagement — Raipur Coverage

Reports are signed under IBBI Registered Valuer credentials (IBBI/RV/03/2019/12333) where required by statute, and supported through assessment, CIT(A), and ITAT proceedings under ITAT Raipur. Free 30-minute consultation: +91 99622 60333.

Raipur: compliance facts for section 56 2 viib valuation report

Raipur is Chhattisgarh's capital and its steel, cement, rice-milling and trading centre, with Naya Raipur as the new administrative and IT township. Company filings go to ROC Bilaspur, tax appeals to ITAT Raipur, writs to the Chhattisgarh High Court at Bilaspur and NCLT matters to Cuttack. For section 56 2 viib valuation report this means the company’s filings go to ROC-cum-OL Bilaspur and tribunal matters to NCLT Cuttack; where a non-resident invests, the price is also checked against the FEMA pricing rules.

Which authorities handle section 56 2 viib valuation report for a business in Raipur?

Raipur companies file with ROC-cum-OL Bilaspur; writ remedies lie before the Chhattisgarh High Court (Bilaspur); company-law and insolvency matters go to the NCLT Cuttack.

Statutory references for this service are on the national section 56 2 viib valuation report page: https://virtualauditor.in/section-562viib-valuation-report

Checked 2026-10-14 against MCA · NCLT · CBIC · ITAT.

Virtual Auditor across India

• Section 56 2 viib Valuation Report — all India
• Chhattisgarh (state)
• All service locations

What has changed in the law — reviewed October 2026

• Income-tax Act, 2025 is in force from 1 April 2026; the section numbers on this page are those of the Income-tax Act, 1961, which continues to govern assessment years up to 2026-27.
• Angel tax under section 56(2)(viib) does not apply from assessment year 2025-26. Valuation is still required under separate rules: Rule 11UA(1)(c) for section 56(2)(x) in the investor's hands; the FEM (Non-debt Instruments) Rules, 2019 pricing guidelines (certificate of a Chartered Accountant, merchant banker or cost accountant) for a non-resident investor; a registered valuer's report under section 247 of the Companies Act, 2013 for preferential allotments; and grant-date fair value under Ind AS 102 for ESOPs (reviewed 25 October 2026).

Full note on the national page.