Calculation of Fair Market Value of Equity Shares based on Book Value by AO: ITAT deletes Addition of Rs. 46.52 Lakhs on Share Premium [Read Order]

The AO as well as CIT(A) had failed to point out any defect in the valuation report furnished by the assessee

By Manu Sharma - On April 7, 2024 3:30 pm - 2 mins read

ITAT Kolkata - ITAT - Income Tax - Fair Market Value - Equity Shares - Share Premium - Income Tax Appeal Share Valuation - Taxscan

The Income Tax Appellate Tribunal ( ITAT ), Kolkata Bench recently deleted the addition of Share Premium as calculation of Fair Market Value ( FMV ) of equity shares based on book value by the Assessing Officer was carried out without due consideration of the valuation report furnished by the assessee. The appellant assessee challenged…

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