https://www.taxtmi.com/caselaws?id=793220 The article notes that for share premium received by a closely held company, fair market value of unquoted shares under Rule 11UA may be supported by a rational valuation method and evidence, and the assessee is not confined to a rigid book-value approach. It records that the Delhi High Court approved the view that the Assessing Officer's book-value-based method was not applicable for the relevant year. On the facts, the valuation report and supporting material justified the reworked valuation of the subsidiary and the share premium, so the deletion of the addition under Section 56(2)(viib) was upheld. en-us Wed, 20 May 2026 00:00:00 +0530 Thu, 11 Jun 2026 08:33:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793220 The article notes that for share premium received by a closely held company, fair market value of unquoted shares under Rule 11UA may be supported by a rational valuation method and evidence, and the assessee is not confined to a rigid book-value approach. It records that the Delhi High Court approved the view that the Assessing Officer's book-value-based method was not applicable for the relevant year. On the facts, the valuation report and supporting material justified the reworked valuation of the subsidiary and the share premium, so the deletion of the addition under Section 56(2)(viib) was upheld. Case-Laws Income Tax Wed, 20 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793220