https://www.taxtmi.com/caselaws?id=768617 ITAT dismissed the Revenue's appeal, holding that the director's shares issued at the merchant banker-determined premium (Rs.12,628.20 per share) stood upheld by lower authorities and could not be revalued using the RBI/master circular discounted cash flow approach applied to a different transaction. As no defect was found in the merchant banker valuation, the differential claimed by the department could not be treated as a perquisite under s.17(2)(vi), and the addition was deleted. en-us Wed, 08 Jan 2025 00:00:00 +0530 Wed, 20 Aug 2025 16:18:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768617 ITAT dismissed the Revenue's appeal, holding that the director's shares issued at the merchant banker-determined premium (Rs.12,628.20 per share) stood upheld by lower authorities and could not be revalued using the RBI/master circular discounted cash flow approach applied to a different transaction. As no defect was found in the merchant banker valuation, the differential claimed by the department could not be treated as a perquisite under s.17(2)(vi), and the addition was deleted. Case-Laws Income Tax Wed, 08 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768617