Revision u/s 263 - issue of shares at premium - The Tribunal ...

Tribunal Confirms PCIT's Rejection of CCD Valuation Method, Supports Income Addition Under IT Act Section 56(2)(viib.

April 1, 2024

Case Laws Income Tax AT

Revision u/s 263 - issue of shares at premium - The Tribunal affirmed the PCIT's findings regarding the inadequacy of the AO's examination of the valuation of CCDs. It concluded that there was no error in discrediting the valuation method adopted by the appellant. - Despite the appellant's contentions regarding jurisdictional matters, the Tribunal upheld the validity of the orders passed by the PCIT and AO. - The Tribunal agreed with the AO's application of section 56(2)(viib) and the rejection of the DCF method, thereby affirming the addition made to the appellant's income.

View Source

← Previous Next →

Revision u/s 263 - issue of shares at premium - The Tribunal ...

Tribunal Confirms PCIT's Rejection of CCD Valuation Method, Supports Income Addition Under IT Act Section 56(2)(viib.

April 1, 2024

Case Laws Income Tax AT

You may also like:

Addition u/s 56(2)(viib) - Method of valuation of shares - closely held company issues its shares at a premium - The tribunal sided with the assessee, affirming the FMV...

Addition u/s 56(2)(viib) - Method of Valuation - share premium receipts - The Tribunal noted that the appellant had obtained a valuation report from a registered valuer,...

TP Adjustment - selection of most appropriate method (MAM) - Resale Price Method or Transactional Net Margin Method - Introduction of Fresh Comparables - Removal of 3%...

The Commissioner of Income Tax (CIT) directed the Assessing Officer (AO) to compute the assessee's income by adding the difference in valuation of shares u/s 56(2)(viib)....

AO rejected DCF method for valuation of shares issued as rights issue to existing shareholders. Instead, AO applied NAV method u/r 11UA determining FMV at Rs.3.07 per...

Constitutionality and legality of Income Computation and Disclosure Standards (ICDS) II and Notification 87/2016, which mandate the use of the First In First Out (FIFO)...

The Income Tax Appellate Tribunal upheld the Assessing Officer's invocation of Section 56(2)(viib) read with Rule 11UA for determining the fair market value of unquoted...

Addition made u/s 153A on account of undisclosed foreign bank account and interest income thereon - assessee confronted with client profiles from HSBC Bank showing...

Income from other sources - addition u/s 56(2)(viib) - Method of valuation of shares issued at premium - FMV - The primary onus to prove the correctness of the valuation...

Additions u/s 56(2)(viib) - it is not denied that the assessee adopted clause (b) of Rule 11UA(2) of the Rules and accordingly obtained a Valuation Report from a...

Enhancement made by the Ld. CIT(A) u/s 251(1) r.w.s. 56(2) (viib) - AO substituted fair market value determined by the assessee through his own valuation - Assessees...

The Appellate Tribunal addressed the validity of a revision u/s 263, focusing on the alleged non-consideration of the assessee's submissions by the Principal...

Addition u/s 56(2)(vii)(b) - alleged excess value of unquoted equity shares - In the absence of any defect in the valuation of shares arrived by the assessee on the...

Method of valuation - Rule 11 is adopted when the situation is not covered by any of the other methods of valuation prescribed from Rule 4 to 10A. The method of...

Addition u/s 56 - Issue of shares at premium - The ITAT recognizes that the holding company's value is directly impacted by the performance of its subsidiary and...

Quick Updates: