No additions towards excess premium if assessee valued shares at FMV computed in accordance with Rule 11UA: ITAT

INCOME TAX : Where assessee issued shares at premium and received share capital of certain amount, since assessee had valued its shares at fair market value computed as per valuation certificate issued by its chartered accountant in accordance with rule 11UA(a) and no fault was found in method applied by assessee, impugned addition made under section 56(2)(viib) on account of such share capital received by assessee was unjustified

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