Withdrawal of obsolete FEMA circulars streamlines rules on external commercial borrowings, non-resident bond investments, and money transfer sub-agent...
Departmental appeal limitation after call-book recall preserves original filing, while documented correlation supports SAD refund on imported granules...
Income-tax prosecution fails when appellate remand removes its factual foundation; directors require company arraignment for vicarious criminal liabil...
Capital character of assignment consideration prevents taxation as residuary income, while unsupported interest-related expenditure remains non-deduct...
Make-available condition shields regional support-service receipts from Indian taxation where no independent capability or permanent establishment exi...
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Rule 11UA(2) permits an assessee issuing unquoted equity shares to choose either the Discounted Cash Flow or Net Asset Value method for determining fair market value under section 56(2)(viib). After a prescribed method is chosen, the Assessing Officer may scrutinise the valuation report but cannot replace it with a formula-based valuation merely because projections, management inputs, or standard disclaimers are questioned. Discounted Cash Flow projections cannot be rejected solely by comparison with subsequent performance. Rejection requires demonstrably incorrect data, a wholly erroneous basis, or a wrong valuation approach; absent such defects, the chosen method governs share-premium valuation.
Rule 11UA(2) permits an assessee issuing unquoted equity shares to choose either the Discounted Cash Flow or Net Asset Value method for determining fair market value under section 56(2)(viib). After a prescribed method is chosen, the Assessing Officer may scrutinise the valuation report but cannot replace it with a formula-based valuation merely because projections, management inputs, or standard disclaimers are questioned. Discounted Cash Flow projections cannot be rejected solely by comparison with subsequent performance. Rejection requires demonstrably incorrect data, a wholly erroneous basis, or a wrong valuation approach; absent such defects, the chosen method governs share-premium valuation.
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