Charitable registration renewal cannot become an assessment of receipts, profitability or annual exemption compliance, requiring renewal and donation ...
AMP expenditure for own business is not an international transaction without an associated-enterprise arrangement, eliminating transfer pricing adjust...
Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
For unquoted equity shares, Rule 11UA(2) gives the assessee the choice of either the NAV method or the DCF method for fair market value, and the Assessing Officer cannot substitute NAV for the method chosen by the assessee. The AO may, however, scrutinise whether the DCF valuation is supported by reliable projections and material; where serious defects remain unexplained, the valuation as filed cannot be accepted. In that situation, the proper course is a fresh valuation by an approved valuer on the DCF basis, with the matter decided afresh in accordance with law. The same approach applies where later-year facts are identical.
For unquoted equity shares, Rule 11UA(2) gives the assessee the choice of either the NAV method or the DCF method for fair market value, and the Assessing Officer cannot substitute NAV for the method chosen by the assessee. The AO may, however, scrutinise whether the DCF valuation is supported by reliable projections and material; where serious defects remain unexplained, the valuation as filed cannot be accepted. In that situation, the proper course is a fresh valuation by an approved valuer on the DCF basis, with the matter decided afresh in accordance with law. The same approach applies where later-year facts are identical.
Note: It is a system-generated summary and is for quick reference only.
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