Functional comparability governs selection of support-service and IT-enabled service comparables, with verification required for unresolved data and m...
Bank account freezing requires statutory authority; anti-money-laundering compliance and KYC monitoring do not permit unilateral indefinite restrictio...
In this ITAT ruling, the Tribunal held that the DCF method for share valuation was validly applied per Rule 11UA(2)(b), accepting the Chartered Accountant's certification of fair market value at Rs. 106 per share. The AO's attempts to find discrepancies in the CA's report were deemed improper as they lacked basis in acceptable principles or approved standards. The Tribunal determined that valuation can only be disputed by another legally recognized expert, thus the s.56(2)(viib) addition was erroneous. Regarding the s.68 addition, the Tribunal ruled that the proviso only permits scrutiny of immediate subscribing companies, not secondary funding sources. The s.14A disallowance was upheld as the assessee failed to rebut findings about expenditure incurred for earning dividend income.
In this ITAT ruling, the Tribunal held that the DCF method for share valuation was validly applied per Rule 11UA(2)(b), accepting the Chartered Accountant's certification of fair market value at Rs. 106 per share. The AO's attempts to find discrepancies in the CA's report were deemed improper as they lacked basis in acceptable principles or approved standards. The Tribunal determined that valuation can only be disputed by another legally recognized expert, thus the s.56(2)(viib) addition was erroneous. Regarding the s.68 addition, the Tribunal ruled that the proviso only permits scrutiny of immediate subscribing companies, not secondary funding sources. The s.14A disallowance was upheld as the assessee failed to rebut findings about expenditure incurred for earning dividend income.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
