https://www.taxtmi.com/caselaws?id=400109 The Tribunal allowed the revenue's appeal challenging the deletion of an addition under section 56(2)(viib) of the Income Tax Act related to excess share premium. The Tribunal remanded the issue back to the CIT(A) due to the acceptance of additional evidence without giving the Assessing Officer an opportunity to examine it, violating Rule 46A of the Income Tax Rules, 1962. The Tribunal emphasized the importance of adhering to procedural requirements and providing a fair opportunity for both parties in tax matters. en-us Fri, 09 Oct 2020 00:00:00 +0530 Wed, 28 Oct 2020 09:57:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400109 The Tribunal allowed the revenue's appeal challenging the deletion of an addition under section 56(2)(viib) of the Income Tax Act related to excess share premium. The Tribunal remanded the issue back to the CIT(A) due to the acceptance of additional evidence without giving the Assessing Officer an opportunity to examine it, violating Rule 46A of the Income Tax Rules, 1962. The Tribunal emphasized the importance of adhering to procedural requirements and providing a fair opportunity for both parties in tax matters. Case-Laws Income Tax Fri, 09 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400109