https://www.taxtmi.com/caselaws?id=792508 Valuation of unquoted preference shares under section 56(2)(viib) was accepted where the assessee used a recognised discounted cash flow method under Rule 11UA and supported it with contemporaneous valuation material. The Assessing Officer could not insist on the net asset value method merely because later actual results differed from projections. Since the preference shares were issued and transferred at the same price and the valuation report was backed by project feasibility details, the share premium was held not to justify an addition under section 56(2)(viib). The deletion of the addition was upheld in favour of the assessee. en-us Tue, 26 May 2026 00:00:00 +0530 Fri, 29 May 2026 08:59:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792508 Valuation of unquoted preference shares under section 56(2)(viib) was accepted where the assessee used a recognised discounted cash flow method under Rule 11UA and supported it with contemporaneous valuation material. The Assessing Officer could not insist on the net asset value method merely because later actual results differed from projections. Since the preference shares were issued and transferred at the same price and the valuation report was backed by project feasibility details, the share premium was held not to justify an addition under section 56(2)(viib). The deletion of the addition was upheld in favour of the assessee. Case-Laws Income Tax Tue, 26 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792508