Section 56(2)(viib) and Rule 11UA Apply to 2013-14: Shares Issued at Premium Valuation Dispute Dismissed.

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....Addition u/s. 56(2)(viib) - shares issued at premium - Valuation under rule 11UA - The argument of the assessee is not acceptable because rules are applicable to year under assessment. - As the shares were allotted during the year under consideration, i.e. 2013-14 itself, Rule 11UA become applicable from 2013- 14 itself. - AT....