https://www.taxtmi.com/caselaws?id=468907 Section 56(2)(viib) was treated as applicable only to share premium received from resident investors, so premium from a non-resident subscriber could not be taxed under that provision, subject to limited verification of the subscriber's non-resident status and supporting documents. On valuation, the Assessing Officer could scrutinise the assessee's discounted cash flow report under Rule 11UA, but could not discard the chosen method and substitute net asset value; if the report was not accepted, the valuation had to be examined again on the same method or by a fresh valuation. The matter was partly remitted for verification and fresh examination. en-us Fri, 03 Jan 2025 00:00:00 +0530 Mon, 25 May 2026 20:05:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468907 Section 56(2)(viib) was treated as applicable only to share premium received from resident investors, so premium from a non-resident subscriber could not be taxed under that provision, subject to limited verification of the subscriber's non-resident status and supporting documents. On valuation, the Assessing Officer could scrutinise the assessee's discounted cash flow report under Rule 11UA, but could not discard the chosen method and substitute net asset value; if the report was not accepted, the valuation had to be examined again on the same method or by a fresh valuation. The matter was partly remitted for verification and fresh examination. Case-Laws Income Tax Fri, 03 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468907