https://www.taxtmi.com/caselaws?id=380108 The Tribunal upheld the deletion of the addition of share premium made by the Assessing Officer under Sec. 56(2)(viib) of the Income Tax Act. It found the assessee's use of the discounted cash flow method for share valuation to be consistent with the rules and previous assessment year's acceptance by the AO. The Tribunal dismissed the revenue's appeal, emphasizing the importance of adhering to prescribed valuation methods and rules, ultimately supporting the decision to delete the share premium addition. en-us Mon, 11 Mar 2019 00:00:00 +0530 Mon, 13 May 2019 15:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380108 The Tribunal upheld the deletion of the addition of share premium made by the Assessing Officer under Sec. 56(2)(viib) of the Income Tax Act. It found the assessee's use of the discounted cash flow method for share valuation to be consistent with the rules and previous assessment year's acceptance by the AO. The Tribunal dismissed the revenue's appeal, emphasizing the importance of adhering to prescribed valuation methods and rules, ultimately supporting the decision to delete the share premium addition. Case-Laws Income Tax Mon, 11 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380108