https://www.taxtmi.com/caselaws?id=311285 ITAT Kolkata remitted the matter back to AO for verification of share valuation under section 56(2)(viib) regarding excess share premium over fair market value. The case involved conversion of CCDS into equity shares for non-resident angel investors. ITAT directed both assessee and AO to comply with requirements similar to Innoviti Payment Solutions case, specifically requiring submission of MIS data and valuation details. AO was instructed to analyze DCF method projections and assumptions for determining FMV. ITAT clarified it expressed no views on valuation report correctness to avoid prejudicing verification process. Grounds allowed for statistical purposes. en-us Mon, 04 Jul 2022 00:00:00 +0530 Sun, 17 Dec 2023 15:13:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311285 ITAT Kolkata remitted the matter back to AO for verification of share valuation under section 56(2)(viib) regarding excess share premium over fair market value. The case involved conversion of CCDS into equity shares for non-resident angel investors. ITAT directed both assessee and AO to comply with requirements similar to Innoviti Payment Solutions case, specifically requiring submission of MIS data and valuation details. AO was instructed to analyze DCF method projections and assumptions for determining FMV. ITAT clarified it expressed no views on valuation report correctness to avoid prejudicing verification process. Grounds allowed for statistical purposes. Case-Laws Income Tax Mon, 04 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311285