Section 56(2)(viib) Addition Unsustainable Due to Improper Rejection of DCF

Intermesh Shopping Network Pvt Ltd Vs ITO (ITAT Delhi) DCF Valuation Cannot Be Rejected Just Because Projections Differ- Disclaimer in Valuation Report Not a Ground to Junk DCF Method: AO Should Have Referred to Valuation Officer —56(2)(viib) Addition Deleted Mumbai Tribunal examined validity of addition of ₹8,39,55,840 u/s 56(2)(viib) arising from share premium collected on allotment of equity shares. Assessee had obtained DCF-based valuation from a qualified CA; projections, discounting rate & methodology were confirmed by the valuer in statement u/s 131. AO rejected the valuation so...