Addition of Excess Share Premium: AO cannot change Method of Valuation of Shares, rules ITAT [Read Order]

AO - ITAT - Excess Share Premium - Share Premium - Valuation of Shares - Taxscan

The Bangalore bench of the Income Tax Appellate Tribunal (ITAT), while considering an appeal challenging the addition of excess share premium under section 68 of the Income Tax Act, 1961 has held that the Assessing Officer cannot change the method of valuation of shares when the assessee was following a different method of valuation. The…

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