https://www.taxtmi.com/caselaws?id=391409 ITAT, Delhi (AT) deleted an addition under section 56(2)(viib) made for alleged excess share premium. The tribunal held that where the same shares were subsequently sold in the next financial year at a substantially higher price to a non-resident following due diligence, and there was no evidence of unaccounted money, the AO's addition was unjustified. Relying on precedent and legislative intent behind s.56(2)(viib), the appeal was allowed in favour of the assessee. en-us Fri, 03 Jan 2020 00:00:00 +0530 Sat, 27 Sep 2025 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391409 ITAT, Delhi (AT) deleted an addition under section 56(2)(viib) made for alleged excess share premium. The tribunal held that where the same shares were subsequently sold in the next financial year at a substantially higher price to a non-resident following due diligence, and there was no evidence of unaccounted money, the AO's addition was unjustified. Relying on precedent and legislative intent behind s.56(2)(viib), the appeal was allowed in favour of the assessee. Case-Laws Income Tax Fri, 03 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391409