ITAT Hyderabad Deletes Sec 56(2)(viib) Addition; AO Cannot Alter Assessee’s DCF Valuation

DIABETOMICS Medical Private Limited Vs ACIT (ITAT Hyderabad)

ITAT Hyderabad Deletes Sec 56(2)(viib) Addition – AO Cannot Change DCF Valuation Method Adopted by Assessee

In Diabetomics Medical Pvt. Ltd. vs ACIT (AYs 2016-17 to 2018-19), the ITAT Hyderabad allowed the assessee’s appeals and held that the AO had no jurisdiction to substitute the valuation method chosen by the assessee while invoking sec 56(2)(viib). The company, a start-up manufacturing

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