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External development charges trigger TDS under section 194C, while disputed administrative payments require factual verification and fresh adjudicatio...
Section 270AA penalty immunity requires identified statutory defaults and a hearing before rejection; reassessment disclosure may constitute under-rep...
Section 80JJAA employee-cost deduction allowed for deployed staff but barred against transfer-pricing income enhancement, with pricing issues remanded...
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Cross-examination rights in Customs Broker revocation inquiries require witness examination; procedural denial may be cured through fresh adjudication...
Valuation of the shares offered for subscription - Determination of fair market value - Applicability of u/s 56(2)(viib) read along with Rule 11UA - Adoption of the Net Asset Value (NAV) method over the Discounted Cash Flow (DCF) method - The court underscored that the option of selecting a valuation method for shares is unequivocally vested with the assessee. It was highlighted that the AO, while possessing the authority to question the veracity of a valuation report, is not empowered to independently adopt a different valuation methodology from that chosen by the assessee. - Conclusively, the High Court allowed the appeal, setting aside the ITAT's order and remitting the matter back to the AO for a fresh valuation exercise strictly adhering to the DCF method, albeit with liberty to appoint an independent valuer.
Valuation of the shares offered for subscription - Determination of fair market value - Applicability of u/s 56(2)(viib) read along with Rule 11UA - Adoption of the Net Asset Value (NAV) method over the Discounted Cash Flow (DCF) method - The court underscored that the option of selecting a valuation method for shares is unequivocally vested with the assessee. It was highlighted that the AO, while possessing the authority to question the veracity of a valuation report, is not empowered to independently adopt a different valuation methodology from that chosen by the assessee. - Conclusively, the High Court allowed the appeal, setting aside the ITAT's order and remitting the matter back to the AO for a fresh valuation exercise strictly adhering to the DCF method, albeit with liberty to appoint an independent valuer.
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