https://www.taxtmi.com/highlights?id=74504 Applicability of section 56(2)(viib) and valuation of shares in cases of Right Issues - Revision order u/s 263 - The Tribunal disagreed with the Pr. CIT's valuation of the fair market value of shares, aligning with the assessee's contention and the precedent set by the ITAT Bench, which held that section 56(2)(viib) is not applicable to Right Issues. - The tribunal set aside the revision order. en-us Wed, 31 Jan 2024 08:26:17 +0530 Wed, 31 Jan 2024 08:26:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74504 Applicability of section 56(2)(viib) and valuation of shares in cases of Right Issues - Revision order u/s 263 - The Tribunal disagreed with the Pr. CIT's valuation of the fair market value of shares, aligning with the assessee's contention and the precedent set by the ITAT Bench, which held that section 56(2)(viib) is not applicable to Right Issues. - The tribunal set aside the revision order. Highlights Income Tax Wed, 31 Jan 2024 08:26:17 +0530 https://www.taxtmi.com/highlights?id=74504