Share Valuation Under Section 56(2)(viia) Set Aside for Mechanical Approach

Brawny Nivesh Pvt. Ltd. Vs ACIT (ITAT Delhi)

56(2)(viia) Valuation Can’t Be Mechanical; Sundry Debtors Can’t Be Added on Presumptions: ITAT Delhi Grants Major Relief

Delhi ITAT partly allowed the Assessee’s appeal, granting substantial relief on additions made u/s 56(2)(viia) and on account of alleged fictitious sundry debtors.

On the issue of addition u/s 56(2)(viia) relating to purchase of unquoted sha

Please become a Premium member. If you are already a Premium member, login here to access the full content.