https://www.taxtmi.com/caselaws?id=306049 The Tribunal held that the assessee correctly valued shares under Section 56(2)(viib) of the Income Tax Act, directing the deletion of the addition made by revenue authorities. However, the disallowance of belatedly deposited Employees' Provident Fund contribution was upheld based on a High Court decision. The issue of addition of interest on advances given was dismissed as not pressed by the assessee's counsel. The appeal was partly allowed, with the Tribunal issuing its order on 25-02-2022. en-us Fri, 25 Feb 2022 00:00:00 +0530 Sat, 07 Jan 2023 08:47:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306049 The Tribunal held that the assessee correctly valued shares under Section 56(2)(viib) of the Income Tax Act, directing the deletion of the addition made by revenue authorities. However, the disallowance of belatedly deposited Employees' Provident Fund contribution was upheld based on a High Court decision. The issue of addition of interest on advances given was dismissed as not pressed by the assessee's counsel. The appeal was partly allowed, with the Tribunal issuing its order on 25-02-2022. Case-Laws Income Tax Fri, 25 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306049