https://www.taxtmi.com/caselaws?id=463696 ITAT (Delhi, AT) allowed the appeals, deleting additions made under s.68 and enhancement under s.56(2)(viib). The tribunal held that fair market value of unquoted shares must be determined per Rule 11UA by one of the prescribed methods, and the assessee validly adopted clause (b). AO rejected the valuation without reasons or contrary material, and CIT(A)'s enhancement was based on conjecture. The assessees had discharged the s.68 onus by producing documents evidencing identity, creditworthiness and genuineness; therefore the impugned additions were deleted. en-us Thu, 06 Nov 2014 00:00:00 +0530 Thu, 11 Sep 2025 16:18:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463696 ITAT (Delhi, AT) allowed the appeals, deleting additions made under s.68 and enhancement under s.56(2)(viib). The tribunal held that fair market value of unquoted shares must be determined per Rule 11UA by one of the prescribed methods, and the assessee validly adopted clause (b). AO rejected the valuation without reasons or contrary material, and CIT(A)'s enhancement was based on conjecture. The assessees had discharged the s.68 onus by producing documents evidencing identity, creditworthiness and genuineness; therefore the impugned additions were deleted. Case-Laws Income Tax Thu, 06 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463696