Customs valuation and import permissibility conflict resolved: accepted enhancement of transaction value removes liability for confiscation and penalt...
Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Page of 4817
Press 'Enter' after typing page number.
6601 to 6620 of 96333 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Section 56(2)(viib) read with Rule 11UA allows an assessee to choose a prescribed valuation method for unquoted shares, including a DCF valuation supported by a merchant banker or valuer. The AO cannot independently replace that chosen method with NAV merely because later financial results differ from projections, since valuation is a matter of estimation and not exact science. Applying that principle, the ITAT held the AO's rejection of the DCF report and substitution of NAV to determine fair market value was not permissible and set aside the addition.
Section 56(2)(viib) read with Rule 11UA allows an assessee to choose a prescribed valuation method for unquoted shares, including a DCF valuation supported by a merchant banker or valuer. The AO cannot independently replace that chosen method with NAV merely because later financial results differ from projections, since valuation is a matter of estimation and not exact science. Applying that principle, the ITAT held the AO's rejection of the DCF report and substitution of NAV to determine fair market value was not permissible and set aside the addition.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
