NPCI-based bank account validation for IEC applications and modifications enables real-time validation; incorrect details block submission or trigger ...
Creation/Invocation of pledge of securities through depository system: standardized pledge forms, notice requirement and invocation notifications to p...
Calendar Spread margin benefit for Single Stock Derivatives suspended on expiry day for expiring contracts; exchanges must implement systems and rule ...
Proportionate interest, unexplained credits and partner remuneration disputed; proofs of fund nexus and lender identity were decisive and disallowance...
Capital gains valuation from stamp assessment versus net consideration for residential reinvestment: deemed stamp value replaced for gains but not for...
The article addresses valuation of share premium under s.56(2)(viib) and Rule 11UA, holding that a taxpayer may elect FMV by formulaic net asset route or by a valuer-certified Discounted Cash Flow (DCF) method and that the Assessing Officer may scrutinise, challenge assumptions, obtain an independent valuation, but may not substitute a different valuation method than the one chosen by the assessee. Applying this, wholesale rejection of a DCF valuation and replacement with NAV was an excess of jurisdiction and the addition based on NAV was deleted, with the appeal allowed.
The article addresses valuation of share premium under s.56(2)(viib) and Rule 11UA, holding that a taxpayer may elect FMV by formulaic net asset route or by a valuer-certified Discounted Cash Flow (DCF) method and that the Assessing Officer may scrutinise, challenge assumptions, obtain an independent valuation, but may not substitute a different valuation method than the one chosen by the assessee. Applying this, wholesale rejection of a DCF valuation and replacement with NAV was an excess of jurisdiction and the addition based on NAV was deleted, with the appeal allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
