https://www.taxtmi.com/caselaws?id=445972 ITAT Delhi remanded case involving addition under section 56(2)(viib) for premium on equity shares exceeding fair market value. AO rejected assessee's DCF valuation method citing lack of rational basis for projections, applied NAV method per Rule 11UA. CIT(A) deleted addition based on abstract legal principles without examining factual objections regarding projection basis. ITAT held CIT(A) failed to scrutinize factual foundation of hefty valuations despite company's limited past earnings. Matter remanded to CIT(A) for fresh determination after proper factual inquiry into projection basis and valuation methodology. en-us Mon, 20 Nov 2023 00:00:00 +0530 Thu, 23 Nov 2023 07:36:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445972 ITAT Delhi remanded case involving addition under section 56(2)(viib) for premium on equity shares exceeding fair market value. AO rejected assessee's DCF valuation method citing lack of rational basis for projections, applied NAV method per Rule 11UA. CIT(A) deleted addition based on abstract legal principles without examining factual objections regarding projection basis. ITAT held CIT(A) failed to scrutinize factual foundation of hefty valuations despite company's limited past earnings. Matter remanded to CIT(A) for fresh determination after proper factual inquiry into projection basis and valuation methodology. Case-Laws Income Tax Mon, 20 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445972