https://www.taxtmi.com/highlights?id=99247 DCF share valuation could not be discarded and replaced with another fair market value without first identifying a specific defect or non-compliance in the assessee's prescribed valuation report, so the addition for excess share premium under section 56(2)(vii)(b) was deleted. Protective assessment was confined to cases of doubt about the correct person chargeable to tax; where both additions were made in the same assessee's hands in the same year under different heads, that basis did not apply, so the section 68 protective addition was also deleted. The appeal was allowed. en-us Tue, 28 Apr 2026 07:29:33 +0530 Tue, 28 Apr 2026 07:29:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=99247 DCF share valuation could not be discarded and replaced with another fair market value without first identifying a specific defect or non-compliance in the assessee's prescribed valuation report, so the addition for excess share premium under section 56(2)(vii)(b) was deleted. Protective assessment was confined to cases of doubt about the correct person chargeable to tax; where both additions were made in the same assessee's hands in the same year under different heads, that basis did not apply, so the section 68 protective addition was also deleted. The appeal was allowed. Highlights Income Tax Tue, 28 Apr 2026 07:29:33 +0530 https://www.taxtmi.com/highlights?id=99247