Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
HC upheld ITAT's order, affirming the Assessee's valuation of unquoted equity shares using Discounted Cash Flow (DCF) method under Rule 11UA(2). The court found the Chartered Accountant's valuation report valid, noting that general disclaimers do not invalidate the expert's assessment. The Assessing Officer's rejection of the valuation was deemed inappropriate without identifying specific material errors in the underlying data. The ICAI Valuation Standard 301 supports the DCF method for subsidiary investment valuation. Consequently, the addition under section 56(2)(viib) was deleted, with no substantial questions of law arising from the case.
HC upheld ITAT's order, affirming the Assessee's valuation of unquoted equity shares using Discounted Cash Flow (DCF) method under Rule 11UA(2). The court found the Chartered Accountant's valuation report valid, noting that general disclaimers do not invalidate the expert's assessment. The Assessing Officer's rejection of the valuation was deemed inappropriate without identifying specific material errors in the underlying data. The ICAI Valuation Standard 301 supports the DCF method for subsidiary investment valuation. Consequently, the addition under section 56(2)(viib) was deleted, with no substantial questions of law arising from the case.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
