https://www.taxtmi.com/caselaws?id=764388 ITAT Jodhpur held that addition under section 56(2)(viib) for share premium was unjustified. The assessee submitted a valuation report from an accountant using various methods including discounted cash flow method as prescribed under Rule 11UA. The AO rejected the report citing future earning analysis method was not allowed, but failed to consider that the report also used permitted methods. CIT(A) confirmed AO's view without proper discussion. ITAT found the assessee discharged its onus by submitting compliant valuation report and directed deletion of addition, ruling in favor of assessee. en-us Thu, 02 Jan 2025 00:00:00 +0530 Wed, 08 Jan 2025 19:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764388 ITAT Jodhpur held that addition under section 56(2)(viib) for share premium was unjustified. The assessee submitted a valuation report from an accountant using various methods including discounted cash flow method as prescribed under Rule 11UA. The AO rejected the report citing future earning analysis method was not allowed, but failed to consider that the report also used permitted methods. CIT(A) confirmed AO's view without proper discussion. ITAT found the assessee discharged its onus by submitting compliant valuation report and directed deletion of addition, ruling in favor of assessee. Case-Laws Income Tax Thu, 02 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764388