Tax Appeal Returned for Further Review Due to Inadequate Investigation of Equity Share Valuation and Projected Figures.

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)(viib) - premium on issue of equity share - CIT(A), while allowing the appeal of the assessee, is not expected to come to a conclusion based on abstract position of law. No inquiry has been shown to be made towards the basis for determination of projected figures assumed while applying DCF Method. The report of the valuer is also based on disclaimer. - CIT(A) has not acted in the manner ordained in law - Matter restored back - AT....