Penalty on Share Premium Valuation Deleted – Bona Fide Claim Not Concealment

Aeropure UV Systems Private Limited Vs DCIT (ITAT Pune) The Pune ITAT deleted penalty under Section 271(1)(c), holding that a bonafide difference in share valuation methodology cannot be treated as furnishing inaccurate particulars of income. The assessee had issued shares at a premium based on a valuation report using multiple methods (NAV, DCF, and Fair Value). The Assessing Officer rejected this approach, adopted NAV method, and made an addition under Section 56(2)(vii)(b), which was partly sustained by CIT(A). Subsequently, penalty of ₹4.83 lakh was levied alleging inaccurate particulars...