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Section 56(2)(viib) Addition Unsustainable Due to Improper Rejection of DCF
Case Law Details
- Case Name
- Intermesh Shopping Network Pvt Ltd Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Delhi
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Intermesh Shopping Network Pvt Ltd Vs ITO (ITAT Delhi)
DCF Valuation Cannot Be Rejected Just Because Projections Differ- Disclaimer in Valuation Report Not a Ground to Junk DCF Method: AO Should Have Referred to Valuation Officer —56(2)(viib) Addition Deleted
Mumbai Tribunal examined validity of addition of ₹8,39,55,840 u/s 56(2)(viib) arising from share premium collected on allotment of equity shares.
Assessee had obtained DCF-based valuation from a qualified CA; projections, discounting rate & methodology were confirmed by the valuer in statement u/s 131. AO rejected the valuation so...
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