Income tax notice to Brainbees ESOP Trust over share issuance pricing for AY 2022-23

FIRSTCRY · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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₹228.00

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₹229.99

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AI summary

FirstCry's controlled Brainbees ESOP Trust received an Income Tax notice for Assessment Year 2022-23 regarding issuance of 1,03,62,254 shares to the trust at face value of Rs 5 per share instead of fair market value. The IT Department proposes to reassess or recompute the issuance. No demand order has been passed yet and financial impact is undetermined. The Trust says no income escaped assessment, believes it has a strong case on merit, and will pursue appropriate legal remedies.

Likely market impact

Tax notice on ESOP Trust share pricing, no demand yet. Company claims strong case. Watch for clarity on financial impact and legal outcome.