https://www.taxtmi.com/caselaws?id=423450 The tribunal upheld the Ld.CIT(A)'s decisions on all grounds, dismissing the revenue's appeal. It was held that Section 56(2)(viib) applies in the year of receipt of consideration, additional evidence in the form of a valuation report from a Chartered Accountant was admissible, and the fair market value of shares was correctly determined based on the provided valuation reports. The tribunal found no reason to interfere with the Ld.CIT(A)'s findings and affirmed the decision. en-us Fri, 22 Apr 2022 00:00:00 +0530 Tue, 07 Jun 2022 08:37:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423450 The tribunal upheld the Ld.CIT(A)'s decisions on all grounds, dismissing the revenue's appeal. It was held that Section 56(2)(viib) applies in the year of receipt of consideration, additional evidence in the form of a valuation report from a Chartered Accountant was admissible, and the fair market value of shares was correctly determined based on the provided valuation reports. The tribunal found no reason to interfere with the Ld.CIT(A)'s findings and affirmed the decision. Case-Laws Income Tax Fri, 22 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423450