Share Premium Valuation: ITAT Delhi Upholds DCF Valuation, Deletes ₹46 Cr Addition

ITO Vs Highrise Securities & Trading Pvt. Ltd (ITAT Delhi) Future Projections vs. Actual Performance – Tribunal Rules in Favour of Assessee on DCF Valuation- ITAT Delhi deletes ₹46.06 Cr Addition u/s 56(2)(viib) – AO Cannot Tinker with DCF Valuation Once Prescribed Method is Followed Assessee, Highrise Securities & Trading Pvt. Ltd., an NBFC engaged in investment activities, issued 9.40 lakh equity shares of ₹10 each at a premium of ₹490 per share, raising ₹46.06 crore as share premium. The valuation of shares was supported by a Merchant Banker’s report using the Discount...