https://www.taxtmi.com/caselaws?id=443175 For unquoted share valuation under Rule 11UA, the assessee may choose a recognised method such as the Discounted Cash Flow method or the Net Asset Value method, and the Assessing Officer cannot substitute a different method merely because later results differ from projections. Valuation depends on estimates, assumptions, and business forecasts, so interference is justified only where cogent material shows perversity, a demonstrably wrong approach, or a material error in the valuation process. On the facts described, no such material was brought on record, and the addition under section 56(2)(viib) was deleted. en-us Fri, 15 Sep 2023 00:00:00 +0530 Fri, 22 Aug 2025 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443175 For unquoted share valuation under Rule 11UA, the assessee may choose a recognised method such as the Discounted Cash Flow method or the Net Asset Value method, and the Assessing Officer cannot substitute a different method merely because later results differ from projections. Valuation depends on estimates, assumptions, and business forecasts, so interference is justified only where cogent material shows perversity, a demonstrably wrong approach, or a material error in the valuation process. On the facts described, no such material was brought on record, and the addition under section 56(2)(viib) was deleted. Case-Laws Income Tax Fri, 15 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443175