https://www.taxtmi.com/caselaws?id=785499 Applicability of section 56(2)(viib) concerning valuation of shares issued to existing shareholders is addressed: where shares were allotted to existing shareholders based on a registered valuer's report and the share premium was rounded to a nearest denomination, such rounding did not create taxable income and the provision was held inapplicable, resulting in the appeal being allowed. The analysis emphasises reliance on independent valuation, issuance to related shareholders, and consideration of intangible business benefits in assessing taxability of share premium. en-us Wed, 21 Jan 2026 00:00:00 +0530 Sat, 24 Jan 2026 08:39:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785499 Applicability of section 56(2)(viib) concerning valuation of shares issued to existing shareholders is addressed: where shares were allotted to existing shareholders based on a registered valuer's report and the share premium was rounded to a nearest denomination, such rounding did not create taxable income and the provision was held inapplicable, resulting in the appeal being allowed. The analysis emphasises reliance on independent valuation, issuance to related shareholders, and consideration of intangible business benefits in assessing taxability of share premium. Case-Laws Income Tax Wed, 21 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785499