https://www.taxtmi.com/caselaws?id=309441 The Tribunal ruled in favor of the assessee, holding that the addition under Section 56(2)(viib) of the Income-Tax Act was unsustainable. It was determined that this section does not apply to non-resident investors, thus the addition related to the investment by the non-resident entity was deemed invalid. Additionally, the Tribunal upheld the validity of the Discounted Cash Flow (DCF) method for valuation, emphasizing that the Assessing Officer could not reject the valuation report without substantial grounds. Consequently, the addition made by the AO was deleted, and the appeal was allowed in favor of the assessee. en-us Fri, 24 Feb 2023 00:00:00 +0530 Sat, 02 Sep 2023 21:13:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309441 The Tribunal ruled in favor of the assessee, holding that the addition under Section 56(2)(viib) of the Income-Tax Act was unsustainable. It was determined that this section does not apply to non-resident investors, thus the addition related to the investment by the non-resident entity was deemed invalid. Additionally, the Tribunal upheld the validity of the Discounted Cash Flow (DCF) method for valuation, emphasizing that the Assessing Officer could not reject the valuation report without substantial grounds. Consequently, the addition made by the AO was deleted, and the appeal was allowed in favor of the assessee. Case-Laws Income Tax Fri, 24 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309441