https://www.taxtmi.com/caselaws?id=301317 The Tribunal set aside the order of the Pr. CIT under Section 263 of the Income Tax Act, 1961, finding it invalid. The Tribunal determined that the AO had conducted proper verification of the share premium, including the valuation of shares, and that the Pr. CIT's claim of inadequate enquiry was unfounded. The Tribunal upheld the use of the DCF method for share valuation, rejecting the Pr. CIT's alternative valuation approach. The Tribunal concluded that the original assessment was neither erroneous nor prejudicial to the revenue, thus allowing the appeal of the assessee. en-us Fri, 24 Sep 2021 00:00:00 +0530 Fri, 15 Dec 2023 15:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301317 The Tribunal set aside the order of the Pr. CIT under Section 263 of the Income Tax Act, 1961, finding it invalid. The Tribunal determined that the AO had conducted proper verification of the share premium, including the valuation of shares, and that the Pr. CIT's claim of inadequate enquiry was unfounded. The Tribunal upheld the use of the DCF method for share valuation, rejecting the Pr. CIT's alternative valuation approach. The Tribunal concluded that the original assessment was neither erroneous nor prejudicial to the revenue, thus allowing the appeal of the assessee. Case-Laws Income Tax Fri, 24 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301317