Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
ITAT held that the addition u/s 56(2)(viib) in respect of share premium received by the assessee-company is unsustainable. It found no allegation or evidence from the AO of any unaccounted money being introduced, and the genuineness of the share subscription, routed through banking channels and utilised for repayment of loans, stood established. ITAT ruled that the lower authorities could not disregard the assessee's DCF-based valuation and registered valuer's report by mechanically substituting guideline value for land and ignoring brand valuation. It emphasised that the statute requires determination of fair market value, not adoption of guideline rates, and disallowed the AO/CIT(A)'s change of valuation method. Consequently, the valuation adopted by the assessee was upheld and the assessee's appeal allowed in full.
ITAT held that the addition u/s 56(2)(viib) in respect of share premium received by the assessee-company is unsustainable. It found no allegation or evidence from the AO of any unaccounted money being introduced, and the genuineness of the share subscription, routed through banking channels and utilised for repayment of loans, stood established. ITAT ruled that the lower authorities could not disregard the assessee's DCF-based valuation and registered valuer's report by mechanically substituting guideline value for land and ignoring brand valuation. It emphasised that the statute requires determination of fair market value, not adoption of guideline rates, and disallowed the AO/CIT(A)'s change of valuation method. Consequently, the valuation adopted by the assessee was upheld and the assessee's appeal allowed in full.
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