https://www.taxtmi.com/caselaws?id=402499 The Tribunal upheld the assessee's choice of the Discounted Cash Flow (DCF) method for valuing shares, rejecting the Assessing Officer's use of the net asset value method. It emphasized that once a method is chosen by the assessee, the AO cannot substitute it with another method. The Tribunal also ruled that the premium charged by the assessee was not excessive under Section 56(2)(viib) of the Income Tax Act, and the AO's rejection of the DCF method was unjustified. The appeal by the Revenue was dismissed, affirming the assessee's right to select a recognized valuation method without arbitrary interference by the AO. en-us Thu, 31 Dec 2020 00:00:00 +0530 Sat, 02 Jan 2021 11:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402499 The Tribunal upheld the assessee's choice of the Discounted Cash Flow (DCF) method for valuing shares, rejecting the Assessing Officer's use of the net asset value method. It emphasized that once a method is chosen by the assessee, the AO cannot substitute it with another method. The Tribunal also ruled that the premium charged by the assessee was not excessive under Section 56(2)(viib) of the Income Tax Act, and the AO's rejection of the DCF method was unjustified. The appeal by the Revenue was dismissed, affirming the assessee's right to select a recognized valuation method without arbitrary interference by the AO. Case-Laws Income Tax Thu, 31 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402499