https://www.taxtmi.com/caselaws?id=781833 ITAT Delhi allowed the assessee's appeal and deleted the addition made under s. 56(2)(viib) on share premium received from its holding company. It held that the deeming fiction in s. 56(2)(viib) does not apply to shares allotted to a holding company, following a Co-ordinate Bench decision. ITAT also observed that the AO wrongly computed per-share value by misreading the value of agricultural land and had no authority to modify a valuation prepared in accordance with Rule 11UA, as upheld by the jurisdictional HC. en-us Wed, 15 Oct 2025 00:00:00 +0530 Fri, 21 Nov 2025 08:42:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781833 ITAT Delhi allowed the assessee's appeal and deleted the addition made under s. 56(2)(viib) on share premium received from its holding company. It held that the deeming fiction in s. 56(2)(viib) does not apply to shares allotted to a holding company, following a Co-ordinate Bench decision. ITAT also observed that the AO wrongly computed per-share value by misreading the value of agricultural land and had no authority to modify a valuation prepared in accordance with Rule 11UA, as upheld by the jurisdictional HC. Case-Laws Income Tax Wed, 15 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781833