https://www.taxtmi.com/caselaws?id=431636 The Tribunal upheld the decision of the Ld. CIT(A) to delete the addition made by the AO under section 56(2)(viib) of the Income Tax Act, 1961. The Tribunal emphasized that the Assessing Officer cannot change the valuation method chosen by the assessee and recognized the Discounted Free Cash Flow (DCF) method as valid. Citing legal precedents, including a relevant case, the Tribunal dismissed the Revenue's appeal, affirming the valuation of shares for the assessment year. The Cross Objection by the assessee was deemed infructuous. en-us Thu, 15 Dec 2022 00:00:00 +0530 Fri, 16 Dec 2022 14:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431636 The Tribunal upheld the decision of the Ld. CIT(A) to delete the addition made by the AO under section 56(2)(viib) of the Income Tax Act, 1961. The Tribunal emphasized that the Assessing Officer cannot change the valuation method chosen by the assessee and recognized the Discounted Free Cash Flow (DCF) method as valid. Citing legal precedents, including a relevant case, the Tribunal dismissed the Revenue's appeal, affirming the valuation of shares for the assessment year. The Cross Objection by the assessee was deemed infructuous. Case-Laws Income Tax Thu, 15 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431636