https://www.taxtmi.com/caselaws?id=786120 Addition under income tax for deemed income on difference between fair market value and purchase price of shares was challenged; the appellate authority allowed additional evidence and applied the principle that share valuation should primarily consider book value of assets and liabilities, rejecting an arbitrary 150% ad hoc uplift on immovable property. The tribunal accepted the appellate reasoning, noting the department failed to show why that valuation approach was unsustainable, and dismissed the revenue appeal. The effect is restoration of the appellate finding that bookvaluebased valuation (not speculative markups) governs determination of fair market value for these shares. en-us Wed, 04 Feb 2026 00:00:00 +0530 Fri, 06 Feb 2026 09:25:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786120 Addition under income tax for deemed income on difference between fair market value and purchase price of shares was challenged; the appellate authority allowed additional evidence and applied the principle that share valuation should primarily consider book value of assets and liabilities, rejecting an arbitrary 150% ad hoc uplift on immovable property. The tribunal accepted the appellate reasoning, noting the department failed to show why that valuation approach was unsustainable, and dismissed the revenue appeal. The effect is restoration of the appellate finding that bookvaluebased valuation (not speculative markups) governs determination of fair market value for these shares. Case-Laws Income Tax Wed, 04 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786120