https://www.taxtmi.com/caselaws?id=425340 The Tribunal confirmed the CIT(A)'s decision that Section 56(2)(viib) of the I.T. Act, 1961 could not be applied retrospectively to share application money received before its introduction. The Tribunal emphasized the validity of the DCF valuation method used by the assessee and dismissed the Revenue's appeal, upholding the deletion of the addition made by the A.O. The case outcome favored the assessee, with the Revenue's appeal being dismissed. en-us Tue, 19 Jul 2022 00:00:00 +0530 Thu, 21 Jul 2022 09:27:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425340 The Tribunal confirmed the CIT(A)'s decision that Section 56(2)(viib) of the I.T. Act, 1961 could not be applied retrospectively to share application money received before its introduction. The Tribunal emphasized the validity of the DCF valuation method used by the assessee and dismissed the Revenue's appeal, upholding the deletion of the addition made by the A.O. The case outcome favored the assessee, with the Revenue's appeal being dismissed. Case-Laws Income Tax Tue, 19 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425340