https://www.taxtmi.com/caselaws?id=412746 The Tribunal ruled in favor of the assessee, deleting the additions made under Section 56(2)(viib) for both assessment years. The Tribunal emphasized that the Discounted Cash Flow (DCF) method, being a prescribed method, should not be rejected solely based on actual results differing from projections. It clarified that Section 56(2)(viib) aims to tax unjustified share premiums, not penalize genuine transactions. Additionally, the alternative addition under Section 68 for AY 2015-16 was dismissed as the assessee adequately proved the identity, creditworthiness, and genuineness of the transactions, and the AO's allegations lacked concrete evidence. en-us Wed, 22 Sep 2021 00:00:00 +0530 Sat, 25 Sep 2021 09:36:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412746 The Tribunal ruled in favor of the assessee, deleting the additions made under Section 56(2)(viib) for both assessment years. The Tribunal emphasized that the Discounted Cash Flow (DCF) method, being a prescribed method, should not be rejected solely based on actual results differing from projections. It clarified that Section 56(2)(viib) aims to tax unjustified share premiums, not penalize genuine transactions. Additionally, the alternative addition under Section 68 for AY 2015-16 was dismissed as the assessee adequately proved the identity, creditworthiness, and genuineness of the transactions, and the AO's allegations lacked concrete evidence. Case-Laws Income Tax Wed, 22 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412746