https://www.taxtmi.com/caselaws?id=399054 The Tribunal upheld the revenue authorities' decision regarding the applicability of Section 56(2)(viib) of the Income Tax Act, 1961 to the assessment year 2013-14. The Tribunal directed a fresh valuation of shares issued at a premium using the Discounted Cash Flow (DCF) method chosen by the Assessee, emphasizing the need for substantiated projections and empirical data. The matter was remanded back to the Assessing Officer for a reevaluation, granting the Assessee an opportunity to justify the valuation assumptions. The appeal was allowed for statistical purposes. en-us Mon, 28 Sep 2020 00:00:00 +0530 Thu, 01 Oct 2020 15:53:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399054 The Tribunal upheld the revenue authorities' decision regarding the applicability of Section 56(2)(viib) of the Income Tax Act, 1961 to the assessment year 2013-14. The Tribunal directed a fresh valuation of shares issued at a premium using the Discounted Cash Flow (DCF) method chosen by the Assessee, emphasizing the need for substantiated projections and empirical data. The matter was remanded back to the Assessing Officer for a reevaluation, granting the Assessee an opportunity to justify the valuation assumptions. The appeal was allowed for statistical purposes. Case-Laws Income Tax Mon, 28 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399054