https://www.taxtmi.com/caselaws?id=426547 The Tribunal held that the Revenue authorities erred in dismissing the valuation report solely based on non-compliance with specific rules. The issues of addition of share premium under section 56(2)(viib) and computation of book profit under section 115JB were remanded back to the Assessing Officer for fresh consideration. The assessee was granted the opportunity to substantiate the fair market value of shares based on the assets' value on the date of issuance. en-us Wed, 27 Jul 2022 00:00:00 +0530 Sat, 20 Aug 2022 08:26:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426547 The Tribunal held that the Revenue authorities erred in dismissing the valuation report solely based on non-compliance with specific rules. The issues of addition of share premium under section 56(2)(viib) and computation of book profit under section 115JB were remanded back to the Assessing Officer for fresh consideration. The assessee was granted the opportunity to substantiate the fair market value of shares based on the assets' value on the date of issuance. Case-Laws Income Tax Wed, 27 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426547