Court Rejects Addition u/s 56(2)(vii)(b) of Income Tax Act; Upholds DCF Valuation Over Net Asset Method.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Addition u/s 56 (2)(vii)(b) - alleged excess value of share premium over fair value - in the absence of any defect in the valuation of shares arrived by the assessee on the basis of DCF method, impugned addition as made on the basis of net asset value method is liable to be deleted. - AT....