https://www.taxtmi.com/caselaws?id=440130 The Tribunal upheld the deletion of the addition made under Section 56(2)(viib) of the Income Tax Act, allowing the assessee to use the Discounted Cash Flow (DCF) method for share valuation. The Tribunal emphasized the assessee's right to choose the valuation method and dismissed the revenue's appeal on these grounds. However, the Tribunal allowed the revenue's appeal regarding the deduction of interest on delayed payment of TDS/TCS, following the Supreme Court decision in Bharat Commercial & Industries Ltd. The disallowance of depreciation claimed on trucks in excess of 15% was also upheld by the Tribunal. en-us Fri, 07 Jul 2023 00:00:00 +0530 Sat, 08 Jul 2023 13:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440130 The Tribunal upheld the deletion of the addition made under Section 56(2)(viib) of the Income Tax Act, allowing the assessee to use the Discounted Cash Flow (DCF) method for share valuation. The Tribunal emphasized the assessee's right to choose the valuation method and dismissed the revenue's appeal on these grounds. However, the Tribunal allowed the revenue's appeal regarding the deduction of interest on delayed payment of TDS/TCS, following the Supreme Court decision in Bharat Commercial & Industries Ltd. The disallowance of depreciation claimed on trucks in excess of 15% was also upheld by the Tribunal. Case-Laws Income Tax Fri, 07 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440130