Determination of Fair Market Value of Unquoted Shares does not Prohibit Inclusion of Share Premium as part of Reserves and Surplus: ITAT deletes Addition

Determination of fair market value of unquoted - shares prohibit inclusion share premium as part of reserves and surplus - ITAT deletes addition - TAXSCAN

The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has deleted the addition holding that the determination of fair market value of unquoted shares would not prohibit inclusion of share premium as part of reserves and surplus. The assessee was CNR Leading Softek Pvt Ltdengaged in the business of software development, market research and public…

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