https://www.taxtmi.com/caselaws?id=397422 ITAT, Bangalore set aside the CIT(A) order and remanded the share-premium valuation to the AO to be decided afresh, holding the DCF method must be retained. The AO may scrutinize the valuation report or obtain an independent valuer but cannot substitute the valuation method. Only facts and data available on the valuation date may be considered; actual later results are irrelevant. The assessee bears the primary onus to substantiate projections, discount rate and terminal value with empirical, industry or scientific support. Appeal allowed for statistical purposes. en-us Fri, 14 Aug 2020 00:00:00 +0530 Sat, 27 Sep 2025 10:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397422 ITAT, Bangalore set aside the CIT(A) order and remanded the share-premium valuation to the AO to be decided afresh, holding the DCF method must be retained. The AO may scrutinize the valuation report or obtain an independent valuer but cannot substitute the valuation method. Only facts and data available on the valuation date may be considered; actual later results are irrelevant. The assessee bears the primary onus to substantiate projections, discount rate and terminal value with empirical, industry or scientific support. Appeal allowed for statistical purposes. Case-Laws Income Tax Fri, 14 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397422