https://www.taxtmi.com/caselaws?id=362287 The Tribunal allowed the appeal for statistical purposes, directing the Assessing Officer to reevaluate the addition made under section 56(2)(viib) of the Income Tax Act, 1961. It emphasized the importance of providing the assessee with an opportunity to substantiate the fair market value of shares and criticized the ld. CIT(Appeals) for not admitting crucial additional evidence. The Tribunal instructed a reconsideration based on the valuation report submitted by the assessee, highlighting the significance of considering all relevant evidence in such matters. en-us Wed, 20 Jun 2018 00:00:00 +0530 Fri, 22 Jun 2018 08:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362287 The Tribunal allowed the appeal for statistical purposes, directing the Assessing Officer to reevaluate the addition made under section 56(2)(viib) of the Income Tax Act, 1961. It emphasized the importance of providing the assessee with an opportunity to substantiate the fair market value of shares and criticized the ld. CIT(Appeals) for not admitting crucial additional evidence. The Tribunal instructed a reconsideration based on the valuation report submitted by the assessee, highlighting the significance of considering all relevant evidence in such matters. Case-Laws Income Tax Wed, 20 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362287