https://www.taxtmi.com/caselaws?id=785243 The Delhi HC held that any valuation exercise for shares had to be carried out under Section 56(2)(vii)(c) read with Rule 11UA of the Income Tax Rules, 1962, and noted that the shares' market value was negative and below the price paid by the assessee. The Supreme Court did not examine the merits further and dismissed the Special Leave Petition because no plausible or bona fide explanation was offered for a delay of 366 days in filing. en-us Fri, 16 Jan 2026 00:00:00 +0530 Tue, 20 Jan 2026 06:31:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785243 The Delhi HC held that any valuation exercise for shares had to be carried out under Section 56(2)(vii)(c) read with Rule 11UA of the Income Tax Rules, 1962, and noted that the shares' market value was negative and below the price paid by the assessee. The Supreme Court did not examine the merits further and dismissed the Special Leave Petition because no plausible or bona fide explanation was offered for a delay of 366 days in filing. Case-Laws Income Tax Fri, 16 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785243