Section 56 Addition Deleted as DCF Valuation Was Not Rejected: ITAT Delhi

Sunstone Learning Pvt. Ltd. Vs DCIT (ITAT Delhi) Share Premium Addition Unsustainable Without Finding Defects in DCF Report; Protective Addition Under Section 68 Invalid in Same Assessee’s Hands; ITAT Deletes ₹4.14 Crore Share Premium Addition Because AO Ignored Prescribed DCF Method; Section 68 Protective Addition Quashed Because No Doubt Existed About Taxability; Fair Market Value Cannot Be Reworked Without Rebutting DCF Valuation; ITAT Relies on Delhi HC Rulings to Delete Excess Share Premium Addition. The Income Tax Appellate Tribunal (ITAT), Delhi, allowed the appeal fil...