Difference Between Projected & Actual Revenue Cannot Invalidate DCF Valuation: ITAT Delhi

ACIT Vs Cinestaan Entertainment Pvt. Ltd. (ITAT Delhi) ITAT Upholds DCF Share Valuation Because Actual Results Cannot Override Future Projections; Revenue Cannot Question Commercial Wisdom of Investors in Share Premium Cases; ITAT Rejects Section 56(2)(viib) Addition Due to Accepted DCF Valuation Method; ITAT Says Assessing Officer Cannot Substitute Own Share Valuation Without Statutory Power. The ITAT Delhi dismissed the Revenue’s appeal against deletion of an addition of Rs.39.98 crore made under Section 56(2)(viib) of the Income Tax Act in relation to share premium received by the assesse...