Court Rules on Share Valuation: Use Balance Sheet as of Valuation Date u/s 56(2)(vii)(c) Income Tax Act.

Court Rules on Share Valuation: Use Balance Sheet as of Valuation Date u/s 56(2)(vii)(c) Income Tax Act. https://www.taxtmi.com/highlights?id=42318 Addition u/s 56(2)(vii)(c) - determination of FMV of shares - drawing up a balance sheet as on valuation date or previous audited balance sheet is to be taken as the base - there was nothing preventing the appellant from drawing up the balance sheet of GEPL as on that date for the limited purpose. en-us Sat, 27 Oct 2018 08:05:31 +0530 Sat, 27 Oct 2018 08:05:31 +0530 TaxTMI RSS Generator Court Rules on Share Valuation: Use Balance Sheet as of Valuation Date u/s 56(2)(vii)(c) Income Tax Act. https://www.taxtmi.com/highlights?id=42318 Addition u/s 56(2)(vii)(c) - determination of FMV of shares - drawing up a balance sheet as on valuation date or previous audited balance sheet is to be taken as the base - there was nothing preventing the appellant from drawing up the balance sheet of GEPL as on that date for the limited purpose. Highlights Income Tax Sat, 27 Oct 2018 08:05:31 +0530 https://www.taxtmi.com/highlights?id=42318