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2021 (8) TMI 1094 - AT - Income TaxAddition of share premium u/s 56(2)(viib) - Determination of value of shares - method of valuation - DCF method - assessee furnished a valuation report in support of the share premium amount, wherein shares had been valued under discounted cash flow method (DCF) - A.O. noticed that the projections given in the valuation report prepared under DCF method do not tally with the actual, as per the return of income - HELD THAT:- AO has proceeded to determine the value of shares by adopting different method without scrutinizing the valuation report furnished by the assessee under DCF method. Accordingly, we set aside the orders passed by Ld CIT(A) and restore the impugned issue to the file of the AO with the direction to examine this afresh as per the directions given by the co-ordinate bench in the case of Innoviti Payment Solutions P Ltd [2019 (1) TMI 688 - ITAT BANGALORE] - Appeal of the assessee is treated as allowed.
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