https://www.taxtmi.com/caselaws?id=777389 Share valuation adopted for an addition under section 56(2)(vii)(c) was held to require fresh examination, as the Tribunal noted that valuation disputes may be referred to a Valuation Officer under section 142A(1). The Revenue's technical objection that the assessee had not raised the issue earlier was rejected, because the correctness of the fair market value had to be considered on merits. The matter was remitted to the Assessing Officer for reconsideration in accordance with law, and the valuation addition was not finally sustained. en-us Thu, 09 Jan 2025 00:00:00 +0530 Fri, 29 Aug 2025 08:56:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=777389 Share valuation adopted for an addition under section 56(2)(vii)(c) was held to require fresh examination, as the Tribunal noted that valuation disputes may be referred to a Valuation Officer under section 142A(1). The Revenue's technical objection that the assessee had not raised the issue earlier was rejected, because the correctness of the fair market value had to be considered on merits. The matter was remitted to the Assessing Officer for reconsideration in accordance with law, and the valuation addition was not finally sustained. Case-Laws Income Tax Thu, 09 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=777389