https://www.taxtmi.com/caselaws?id=294525 The Tribunal set aside the Principal Commissioner of Income Tax's order under section 263, ruling that the original assessment order was not erroneous or prejudicial to revenue's interest. The Tribunal found that the Assessing Officer had appropriately valued unquoted shares in compliance with Rule 11UA and section 56(2)(viia). Consequently, the appeal was allowed, and the original assessment order was upheld. en-us Tue, 25 Sep 2018 00:00:00 +0530 Tue, 11 May 2021 16:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294525 The Tribunal set aside the Principal Commissioner of Income Tax's order under section 263, ruling that the original assessment order was not erroneous or prejudicial to revenue's interest. The Tribunal found that the Assessing Officer had appropriately valued unquoted shares in compliance with Rule 11UA and section 56(2)(viia). Consequently, the appeal was allowed, and the original assessment order was upheld. Case-Laws Income Tax Tue, 25 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294525