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Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Addition of share premium u/s 56(2)(viib) - Rule 11UA(2)(b) - rejection of valuation - there is no enabling provision under the Rule or the Act where AO has been given a power to tinker with the valuation report obtained by an independent valuer - if law provides the assessee to get the valuation done from a prescribed expert as per the prescribed method, then the same cannot be rejected because neither the AO nor the assessee have been recognized as expert under the law
Addition of share premium u/s 56(2)(viib) - Rule 11UA(2)(b) - rejection of valuation - there is no enabling provision under the Rule or the Act where AO has been given a power to tinker with the valuation report obtained by an independent valuer - if law provides the assessee to get the valuation done from a prescribed expert as per the prescribed method, then the same cannot be rejected because neither the AO nor the assessee have been recognized as expert under the law
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
