https://www.taxtmi.com/caselaws?id=795185 Section 56(2)(viib) prevents introduction of unaccounted money through excessive share premium but does not permit substitution of a taxpayer's prescribed Rule 11UA valuation method without cogent material. Where discounted cash flow valuation is chosen, rejection requires proof that the method, assumptions, or projections are perverse or incorrect. Transaction genuineness was not disputed, no evidence showed unaccounted-money infusion, and actual profits exceeded projected results. An erroneous comparison could not displace the valuation, while RBI approval of the share issue and premium supported its credibility. A valuation report obtained after issue could substantiate share value. The share-premium addition was therefore deleted. en-us Tue, 10 Mar 2026 00:00:00 +0530 Sat, 18 Jul 2026 08:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795185 Section 56(2)(viib) prevents introduction of unaccounted money through excessive share premium but does not permit substitution of a taxpayer's prescribed Rule 11UA valuation method without cogent material. Where discounted cash flow valuation is chosen, rejection requires proof that the method, assumptions, or projections are perverse or incorrect. Transaction genuineness was not disputed, no evidence showed unaccounted-money infusion, and actual profits exceeded projected results. An erroneous comparison could not displace the valuation, while RBI approval of the share issue and premium supported its credibility. A valuation report obtained after issue could substantiate share value. The share-premium addition was therefore deleted. Case-Laws Income Tax Tue, 10 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795185