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2022 (2) TMI 180 - AT - Income TaxAddition of Excess Share premium amount made u/s 56(2)(viib) and sec.68 - change the method of valuing shares - HELD THAT:- As both the additions arise out of common issue only. The assessee has also filed certain additional evidences. We earlier noticed that the assessee had adopted DCF method for valuing the shares, while the AO has adopted NAV method. In view of the above said decision rendered by the co-ordinate bench, which in turn has followed the decision rendered by Hon’ble Bombay High Court in the case of Vodafone M-Pesa Ltd [2018 (3) TMI 530 - BOMBAY HIGH COURT] AO is not entitled to change the method of valuation of shares. Accordingly, we set aside the order passed by LD CIT(A) and restore all the issues to the file of AO with the directions similar to the one given by the co-ordinate bench in the above said case. Appeal filed by the assessee is treated as allowed for statistical purposes.
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