https://www.taxtmi.com/caselaws?id=795077 A supported share-valuation report for share premium under section 56(2)(viib) cannot be displaced by an Assessing Officer's unsupported net asset value calculation, particularly where the report's workings are not properly examined or referred for valuation. The article notes that the share-premium addition was deleted. In limited scrutiny, expense disallowances outside the selected issues require recorded satisfaction and prior approval for conversion to complete scrutiny; without valid conversion, such additions exceed the Assessing Officer's jurisdiction. The article states that the expense disallowance was also deleted. 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 A supported share-valuation report for share premium under section 56(2)(viib) cannot be displaced by an Assessing Officer's unsupported net asset value calculation, particularly where the report's workings are not properly examined or referred for valuation. The article notes that the share-premium addition was deleted. In limited scrutiny, expense disallowances outside the selected issues require recorded satisfaction and prior approval for conversion to complete scrutiny; without valid conversion, such additions exceed the Assessing Officer's jurisdiction. The article states that the expense disallowance was also deleted. Case-Laws Income Tax Mon, 13 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795077