https://www.taxtmi.com/caselaws?id=376137 The Tribunal upheld the Assessing Officer's decision to tax the excess share premium over fair market value under Section 56(2)(viib) of the Income Tax Act, rejecting the Discounted Cash Flow Method in favor of the Net Asset Value Method. The Tribunal also affirmed the disallowance of bad debts claimed by the assessee, emphasizing the need for substantiating valuation methods and ensuring claimed expenses are included in the assessee's income. en-us Wed, 27 Feb 2019 00:00:00 +0530 Tue, 09 Aug 2022 16:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=376137 The Tribunal upheld the Assessing Officer's decision to tax the excess share premium over fair market value under Section 56(2)(viib) of the Income Tax Act, rejecting the Discounted Cash Flow Method in favor of the Net Asset Value Method. The Tribunal also affirmed the disallowance of bad debts claimed by the assessee, emphasizing the need for substantiating valuation methods and ensuring claimed expenses are included in the assessee's income. Case-Laws Income Tax Wed, 27 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=376137