https://www.taxtmi.com/caselaws?id=774691 ITAT Mumbai allowed the assessee's appeal against addition under section 56(2)(vii)(b) for alleged difference in fair market value of equity shares. The assessee issued 10 lakh shares at Rs. 200 per share while AO determined FMV at Rs. 186 per share. ITAT found the valuation report complied with Rule 11UA requirements and considered intrinsic value beyond book value. The tribunal noted consistent share pricing in earlier years accepted by revenue and held that Rs. 10 crore received before April 1, 2012 cannot be taxed under provisions effective from April 1, 2013. Addition deleted. en-us Thu, 10 Jul 2025 00:00:00 +0530 Sat, 12 Jul 2025 08:40:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774691 ITAT Mumbai allowed the assessee's appeal against addition under section 56(2)(vii)(b) for alleged difference in fair market value of equity shares. The assessee issued 10 lakh shares at Rs. 200 per share while AO determined FMV at Rs. 186 per share. ITAT found the valuation report complied with Rule 11UA requirements and considered intrinsic value beyond book value. The tribunal noted consistent share pricing in earlier years accepted by revenue and held that Rs. 10 crore received before April 1, 2012 cannot be taxed under provisions effective from April 1, 2013. Addition deleted. Case-Laws Income Tax Thu, 10 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774691