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No bar on collecting higher share premium as valuation certificate prescribes only minimum sum to be collected

June 10, 2019[2019] 105 taxmann.com 291 (Mumbai - Trib.)
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IT: Where AO made addition to assessee's income under section 68 in respect of share premium collected over and above premium worked out in Valuation Certificate submitted to RBI, in view of fact that as per Notification No. FEMA/203/2010-RB, dated 7-4-2010, share premium amount worked out in Valuation Certificate is minimum amount that can be collected by assessee and, hence, there is no bar on collecting higher amount as share premium, impugned addition was to be deleted

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