https://www.taxtmi.com/caselaws?id=404689 The appeal was allowed by the Tribunal. The Assessing Officer's valuation of shares at a Fair Market Value of Rs. 10/- per share was deemed unjust as the AO cannot substitute the value determined by the assessee's chosen method. The case was remanded for fresh examination of the share valuation issue. Additionally, the disallowance of ROC fees for the enhancement of Authorized Share Capital was reversed, treating it as preliminary expenditure under Section 35D of the Income Tax Act. en-us Thu, 25 Feb 2021 00:00:00 +0530 Mon, 01 Mar 2021 10:23:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404689 The appeal was allowed by the Tribunal. The Assessing Officer's valuation of shares at a Fair Market Value of Rs. 10/- per share was deemed unjust as the AO cannot substitute the value determined by the assessee's chosen method. The case was remanded for fresh examination of the share valuation issue. Additionally, the disallowance of ROC fees for the enhancement of Authorized Share Capital was reversed, treating it as preliminary expenditure under Section 35D of the Income Tax Act. Case-Laws Income Tax Thu, 25 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404689