https://www.taxtmi.com/caselaws?id=468721 Section 56(2)(viib) was treated as an anti-abuse provision directed at share-premium receipts used to introduce unaccounted money, and it was held inapplicable where a promoter-director's existing unsecured loan was converted into equity shares at premium on a bona fide restructuring. The record did not show that the loan was undisclosed or that the arrangement was devised to route unaccounted income into the company, so the addition was deleted. The DCF valuation was also accepted because Rule 11UA permits recognised valuation methods, and the Assessing Officer could not reject the chosen method without cogent material showing perversity or demonstrable error. en-us Fri, 23 May 2025 00:00:00 +0530 Mon, 18 May 2026 12:12:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468721 Section 56(2)(viib) was treated as an anti-abuse provision directed at share-premium receipts used to introduce unaccounted money, and it was held inapplicable where a promoter-director's existing unsecured loan was converted into equity shares at premium on a bona fide restructuring. The record did not show that the loan was undisclosed or that the arrangement was devised to route unaccounted income into the company, so the addition was deleted. The DCF valuation was also accepted because Rule 11UA permits recognised valuation methods, and the Assessing Officer could not reject the chosen method without cogent material showing perversity or demonstrable error. Case-Laws Income Tax Fri, 23 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468721