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2020 (10) TMI 710 - AT - Income TaxAddition of share premium amount u/s 56(2)(viib) - Valuation of shares - assessee furnished a valuation report issued by a Chartered Accountant in support of the share premium amount collected by it Chartered Accountant had valued the shares under discounted cash flow method (DCF method) - HELD THAT:- AO has proceeded to determine the value of shares in both the years by adopting different method without scrutinizing the valuation report furnished by the assessee under DCF method. Accordingly, following the decisions rendered by the co-ordinate benches, we set aside the orders passed by Ld CIT(A) in both the years and restore the impugned issue in both the years 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].
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