https://www.taxtmi.com/highlights?id=47553 Addition of share premium u/s 56(2)(viib) - Rule 11UA(2)(b) - rejection of valuation - there is no enabling provision under the Rule or the Act where AO has been given a power to tinker with the valuation report obtained by an independent valuer - if law provides the assessee to get the valuation done from a prescribed expert as per the prescribed method, then the same cannot be rejected because neither the AO nor the assessee have been recognized as expert under the law en-us Sat, 29 Jun 2019 09:38:06 +0530 Sat, 29 Jun 2019 09:38:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=47553 Addition of share premium u/s 56(2)(viib) - Rule 11UA(2)(b) - rejection of valuation - there is no enabling provision under the Rule or the Act where AO has been given a power to tinker with the valuation report obtained by an independent valuer - if law provides the assessee to get the valuation done from a prescribed expert as per the prescribed method, then the same cannot be rejected because neither the AO nor the assessee have been recognized as expert under the law Highlights Income Tax Sat, 29 Jun 2019 09:38:06 +0530 https://www.taxtmi.com/highlights?id=47553