https://www.taxtmi.com/caselaws?id=434451 The Tribunal set aside the addition of share premium under section 56(2)(viib) for re-examination by the Assessing Officer (AO). The AO was directed to reconsider the valuation report under the Discounted Cash Flow (DCF) method, ensuring compliance with Rule 11UA. The AO cannot alter the method from DCF to Net Asset Value (NAV) but must assess the method's accuracy and underlying assumptions. The question of the assessee's qualification as a Venture Capital Undertaking remains unresolved. The appeal was deemed allowed for statistical purposes. en-us Wed, 22 Feb 2023 00:00:00 +0530 Fri, 24 Feb 2023 09:07:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434451 The Tribunal set aside the addition of share premium under section 56(2)(viib) for re-examination by the Assessing Officer (AO). The AO was directed to reconsider the valuation report under the Discounted Cash Flow (DCF) method, ensuring compliance with Rule 11UA. The AO cannot alter the method from DCF to Net Asset Value (NAV) but must assess the method's accuracy and underlying assumptions. The question of the assessee's qualification as a Venture Capital Undertaking remains unresolved. The appeal was deemed allowed for statistical purposes. Case-Laws Income Tax Wed, 22 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434451