https://www.taxtmi.com/caselaws?id=456099 The Tribunal dismissed the assessee's appeal, affirming the CIT(A)'s order to add Rs. 1,41,11,192/- as share premium under section 56(2)(viib) of the I.T. Act for A.Y. 2014-15. The Tribunal upheld that the share premium exceeded the auditor's valuation and that loan conversion into equity shares does not exempt the assessee from the provisions of section 56(2)(viib). No compelling evidence or precedent was provided to challenge the tax authorities' decision. en-us Thu, 31 Aug 2023 00:00:00 +0530 Fri, 28 Jun 2024 08:43:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456099 The Tribunal dismissed the assessee's appeal, affirming the CIT(A)'s order to add Rs. 1,41,11,192/- as share premium under section 56(2)(viib) of the I.T. Act for A.Y. 2014-15. The Tribunal upheld that the share premium exceeded the auditor's valuation and that loan conversion into equity shares does not exempt the assessee from the provisions of section 56(2)(viib). No compelling evidence or precedent was provided to challenge the tax authorities' decision. Case-Laws Income Tax Thu, 31 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456099