https://www.taxtmi.com/caselaws?id=401868 The Tribunal allowed the appeal for statistical purposes, directing the AO to re-evaluate the share valuation report using the DCF method, as initially chosen by the assessee, and not to switch to the NAV method. The AO must scrutinize the DCF report thoroughly and, if necessary, obtain an independent valuation, adhering to established legal principles. The Tribunal emphasized the AO's obligation to follow the valuation method selected by the assessee and ensure proper examination before making additions under Section 56(2)(viib) of the Income-tax Act, 1961. The orders of the CIT(A) were set aside, and the matter was remanded for fresh examination. en-us Wed, 16 Dec 2020 00:00:00 +0530 Mon, 04 Nov 2024 12:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401868 The Tribunal allowed the appeal for statistical purposes, directing the AO to re-evaluate the share valuation report using the DCF method, as initially chosen by the assessee, and not to switch to the NAV method. The AO must scrutinize the DCF report thoroughly and, if necessary, obtain an independent valuation, adhering to established legal principles. The Tribunal emphasized the AO's obligation to follow the valuation method selected by the assessee and ensure proper examination before making additions under Section 56(2)(viib) of the Income-tax Act, 1961. The orders of the CIT(A) were set aside, and the matter was remanded for fresh examination. Case-Laws Income Tax Wed, 16 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401868