https://www.taxtmi.com/caselaws?id=406686 The Tribunal ruled that Section 56(2)(viib) of the Income Tax Act was not applicable in the assessment year 2013-14 as the shares were actually allotted in the following year. The appeal was partially allowed, directing the removal of additions made by the Assessing Officer under Section 56(2)(viib) for the year 2013-14. The Tribunal also left open the discussion on the valuation date and balance sheet adoption for academic considerations. en-us Fri, 05 Mar 2021 00:00:00 +0530 Wed, 21 Apr 2021 08:16:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406686 The Tribunal ruled that Section 56(2)(viib) of the Income Tax Act was not applicable in the assessment year 2013-14 as the shares were actually allotted in the following year. The appeal was partially allowed, directing the removal of additions made by the Assessing Officer under Section 56(2)(viib) for the year 2013-14. The Tribunal also left open the discussion on the valuation date and balance sheet adoption for academic considerations. Case-Laws Income Tax Fri, 05 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406686