https://www.taxtmi.com/caselaws?id=440455 The tribunal condoned the delay in filing the appeal due to the Covid-19 lockdown, upheld the validity of the share premium valuation based on the Chartered Accountant's report, rejected the AO's dismissal of the report, and found no fault in not referring the valuation to an independent valuer. The tribunal concluded that the assessee followed the proper valuation method, supported by a new report from a Merchant Banker, and allowed the appeal by deleting the additions proposed by the AO under Section 56(2)(viib) of the Income Tax Act. en-us Thu, 01 Dec 2022 00:00:00 +0530 Wed, 19 Jul 2023 09:01:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440455 The tribunal condoned the delay in filing the appeal due to the Covid-19 lockdown, upheld the validity of the share premium valuation based on the Chartered Accountant's report, rejected the AO's dismissal of the report, and found no fault in not referring the valuation to an independent valuer. The tribunal concluded that the assessee followed the proper valuation method, supported by a new report from a Merchant Banker, and allowed the appeal by deleting the additions proposed by the AO under Section 56(2)(viib) of the Income Tax Act. Case-Laws Income Tax Thu, 01 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440455