https://www.taxtmi.com/caselaws?id=795077 Excess share-premium addition under section 56(2)(viib) was unsustainable because a chartered accountant's supported valuation report, with detailed workings valuing shares above the issue price, could not be displaced by the Assessing Officer's unsupported net asset value computation without referral to the valuation cell or examination of the underlying material. Deletion of the addition was therefore upheld. Expense disallowance also fell outside the limited-scrutiny issues of advances, loans and share premium. Without recorded satisfaction and prior approval for conversion to complete scrutiny, the Assessing Officer lacked jurisdiction to make that addition; its deletion was upheld. en-us Mon, 13 Jul 2026 00:00:00 +0530 Thu, 16 Jul 2026 09:07:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795077 Excess share-premium addition under section 56(2)(viib) was unsustainable because a chartered accountant's supported valuation report, with detailed workings valuing shares above the issue price, could not be displaced by the Assessing Officer's unsupported net asset value computation without referral to the valuation cell or examination of the underlying material. Deletion of the addition was therefore upheld. Expense disallowance also fell outside the limited-scrutiny issues of advances, loans and share premium. Without recorded satisfaction and prior approval for conversion to complete scrutiny, the Assessing Officer lacked jurisdiction to make that addition; its deletion was upheld. Case-Laws Income Tax Mon, 13 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795077