Section 68 Addition Deleted After Investors Prove Identity, Genuineness and Creditworthiness

Talentube Entertainment Pvt. Ltd. Vs ITO (ITAT Mumbai) DCF Valuation Not Questioned, Section 68 Can’t Be Mechanical: ITAT Mumbai Upholds Deletion of ₹4.25 Cr Share Premium Addition Mumbai ITAT  partly allowed the assessee’s appeal and dismissed the Revenue’s appeal in a case involving share capital & share premium additions u/s 68. The assessee had issued shares at a high premium based on DCF valuation and received investments from 15 shareholders. The AO made an addition of ₹5 crore u/s 68, doubting the creditworthiness of investors, though no adverse finding was recorded again...