https://www.taxtmi.com/caselaws?id=409176 The Tribunal allowed the appeal for statistical purposes and remanded the case to the Assessing Officer (AO) for a fresh decision based on the Discounted Cash Flow (DCF) method for valuation of shares. The AO was directed to re-examine the valuation issue following the DCF method, giving the Assessee an opportunity for a hearing. The Tribunal emphasized that the AO cannot change the method chosen by the Assessee but can challenge the methodology and assumptions. The primary responsibility to prove the correctness of the valuation report lies with the Assessee. en-us Wed, 30 Jun 2021 00:00:00 +0530 Thu, 01 Jul 2021 07:55:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409176 The Tribunal allowed the appeal for statistical purposes and remanded the case to the Assessing Officer (AO) for a fresh decision based on the Discounted Cash Flow (DCF) method for valuation of shares. The AO was directed to re-examine the valuation issue following the DCF method, giving the Assessee an opportunity for a hearing. The Tribunal emphasized that the AO cannot change the method chosen by the Assessee but can challenge the methodology and assumptions. The primary responsibility to prove the correctness of the valuation report lies with the Assessee. Case-Laws Income Tax Wed, 30 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409176