https://www.taxtmi.com/caselaws?id=395943 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee for Assessment Year 2015-16, allowing the appeal on the grounds of notional lease rent and addition under Section 56(2)(viib). For Assessment Year 2016-17, the appeal was partly allowed, with the ITAT ruling in favor of the assessee on the notional lease rent issue but upholding the disallowance of share issue expenses. Stay petitions were dismissed as infructuous due to the appeal decisions. en-us Fri, 12 Jun 2020 00:00:00 +0530 Sun, 14 Jun 2020 20:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395943 The Income Tax Appellate Tribunal (ITAT) ruled in favor of the assessee for Assessment Year 2015-16, allowing the appeal on the grounds of notional lease rent and addition under Section 56(2)(viib). For Assessment Year 2016-17, the appeal was partly allowed, with the ITAT ruling in favor of the assessee on the notional lease rent issue but upholding the disallowance of share issue expenses. Stay petitions were dismissed as infructuous due to the appeal decisions. Case-Laws Income Tax Fri, 12 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395943