IPO-Bound PRISM Gets Relief In ₹3,885 Cr Angel Tax Demand Case

by · Inc42

SUMMARY

  • Hotel aggregator OYO has received a tax relief of ₹3,885.51 Cr, which was in relation to its share premium received by it from parent entity Oravel Stays Ltd (OSL)
  • The company argued whether the valuation was correct, but whether the tax department can change the valuation methodology chosen by the company
  • For context, this case is connected to OYO’s CCPS issue to the parent entity in 2021-22, after it was demerged from Oravel Stays into OYO Hotels and Homes