Share Premium Tax Addition Remanded for Selective Evidence Acceptance

Mount Spring Beverages Pvt. Ltd. Vs ITO (ITAT Delhi) ITAT Delhi: Share Premium Addition u/s 56(2)(viib) Remanded for Fresh Valuation Review-Selective Acceptance of Evidence Set Aside   Assessee, engaged in manufacturing, bottling & packaging of mineral water at Paonta Sahib (HP), filed return declaring loss of ₹27.73 lakh. During A.Y. 2013-14, it issued 1.5 lakh equity shares of ₹10 each at ₹200 per share, raising ₹3 crore to strengthen working capital. The valuation was done through the DCF method certified by a Chartered Accountant. AO, however, invoked Section 56(2)(viib), hold...