Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
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Issuance of shares to existing promoters was examined under section 56(2)(viib) with the central question being proper determination of fair market value (FMV). ITAT held that the assessing officer could not substitute the Discounted Cash Flow (DCF) method adopted under Rule 11UA and that the DCF valuation was based on reasonable assumptions, accordingly the premium was not excessive and the addition under section 56(2)(viib) was deleted. ITAT further held that no allegation of unaccounted funds existed so the related party infusion could not be taxed as deemed income; application of the NAV method produced an even higher FMV.
Issuance of shares to existing promoters was examined under section 56(2)(viib) with the central question being proper determination of fair market value (FMV). ITAT held that the assessing officer could not substitute the Discounted Cash Flow (DCF) method adopted under Rule 11UA and that the DCF valuation was based on reasonable assumptions, accordingly the premium was not excessive and the addition under section 56(2)(viib) was deleted. ITAT further held that no allegation of unaccounted funds existed so the related party infusion could not be taxed as deemed income; application of the NAV method produced an even higher FMV.
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