Enhancement made by the Ld. CIT(A) u/s 251(1) r.w.s. 56(2) ...

Case Laws Income Tax

April 22, 2024

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 have submitted the Valuation Report duly signed by the auditor by following NAV/DCF Method as required under Rule 11UA(2) of the Rules - The Tribunal disagreed with this decision, highlighting that the assessee had provided a valuation report as per the prescribed method (Discounted Cash Flow Method under Rule 11UA(2)(b)). The Tribunal found that the lower authorities had inappropriately rejected this valuation report without providing a basis for doing so.

View Source

← Previous Next →

Enhancement made by the Ld. CIT(A) u/s 251(1) r.w.s. 56(2) ...

Case Laws Income Tax

April 22, 2024

You may also like:

Addition u/s 56 (2)(viib) - Valuation of shares - Faire Market Value (FMV) - the assessee has himself filed a valuation certificate before AO and accepted fair market...

Section 56(2)(viib) deals with the consideration received by a company for issue of shares at a premium. The assessee company issued equity shares at a premium, which...

Reopening of assessment u/s 147 for assessing Long Term Capital Gain on sale of land in Financial Year 2005-06. Assessing Officer (AO) adopted full value consideration...

The Income Tax Appellate Tribunal (ITAT) examined the addition made u/s 56(2)(viib) for the difference between the market value and consideration received for shares...

Income from other sources - Addition u/s.56(2)(viib) - The revenue authorities cannot force the assessee to adopt particular method for valuing the fair market value of...

Assessee issued shares at fair market value computed as per Rule 11UA(2), but Assessing Officer (AO) and CIT(A) rejected valuation without justification. Statute...

Income from other sources u/s 56(2)(viib) - FMV determination of shares - The decision of the tribunal holding that, the DCF method adopted by the assessee for...

Revision u/s 263 by CIT - Addition u/s 56(2) - The admitted position in the present case is that the assessee did not file any valuation report to substantiate the fair...

Conversion of loan into share capital attracts provisions of Section 56(2)(viib) of the Income Tax Act. The term 'consideration' used in the section has wide...

Enhancement of income by CIT(A) - Valuation of the shares as per Rule 11UA - Additions u/s 56(2)(viib) - Determination of Consideration received for such shares in...

Addition u/s 56(2)(viib) - Share Capital - excessive Share premium - closely held company - Rule 11UA - Assessee has failed to explain and justify issue of preference...

Addition of income from other sources u/s 56(2)(viib) - allotment of shares at a price which exceeds fair market value (FMV) of the share - Revaluation reserves need not...

Addition u/s 56(2)(vii)(b) - difference in the market value and issued value of shares - assessee had established through various evidences submitted during appeal...

Addition u/s 56(2)(vii)(b) - difference in value in respect of the subject properties - there cannot be two different fair market value in respect of the very same...

Addition u/s 56(2)(viib) - issue of shares at premium - working of fair market value as per 11UA(2)(a) - The ITAT observed that Rule 11UA(2) provides an option to the...

Quick Updates: