Failure to Examine Share Valuation Basis u/s 56(2)(viib) Leads to Deletion of Additions in Tax Case.

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....Method of valuation of shares - Addition u/s 56(2)(viib) - The lower authorities have not examined the basis on which the valuation is done and from the perusal of facts, no details in this regard have been called for by the lower authorities. The valuation report is rejected based on the objective satisfaction and not based on detailed examination. - Additions deleted - AT....