https://www.taxtmi.com/caselaws?id=445960 The ITAT Delhi remitted the case back to the AO for fresh examination regarding addition under section 56(2)(viib) for share premium received from non-resident. The AO had disallowed discounted cash flow method for valuation and made addition for alleged excess share premium. The Tribunal noted the CIT(A) order was ex-parte and relevant case law from Clearview Healthcare was not considered by lower authorities, which held that addition is unjustified when shares are subsequently sold at higher amounts to non-resident buyers through proper due diligence without unaccounted money involvement. en-us Fri, 22 Sep 2023 00:00:00 +0530 Wed, 22 Nov 2023 09:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445960 The ITAT Delhi remitted the case back to the AO for fresh examination regarding addition under section 56(2)(viib) for share premium received from non-resident. The AO had disallowed discounted cash flow method for valuation and made addition for alleged excess share premium. The Tribunal noted the CIT(A) order was ex-parte and relevant case law from Clearview Healthcare was not considered by lower authorities, which held that addition is unjustified when shares are subsequently sold at higher amounts to non-resident buyers through proper due diligence without unaccounted money involvement. Case-Laws Income Tax Fri, 22 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445960