https://www.taxtmi.com/caselaws?id=444175 The Tribunal dismissed the Revenue's appeal, affirming the CIT (A)'s decision. It upheld that the assessee's use of the Discounted Cash Flow method for share valuation was appropriate and in compliance with Rule 11UA, rejecting the Assessing Officer's book value method. The Tribunal also supported the CIT (A)'s allowance of interest expenses, recognizing the assessee's own funds. The Tribunal concluded that the addition made by the AO under Section 56(2)(viib) was not tenable, and the valuation of shares at Rs. 1,500/- was lawful. en-us Mon, 09 Oct 2023 00:00:00 +0530 Wed, 11 Oct 2023 08:40:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444175 The Tribunal dismissed the Revenue's appeal, affirming the CIT (A)'s decision. It upheld that the assessee's use of the Discounted Cash Flow method for share valuation was appropriate and in compliance with Rule 11UA, rejecting the Assessing Officer's book value method. The Tribunal also supported the CIT (A)'s allowance of interest expenses, recognizing the assessee's own funds. The Tribunal concluded that the addition made by the AO under Section 56(2)(viib) was not tenable, and the valuation of shares at Rs. 1,500/- was lawful. Case-Laws Income Tax Mon, 09 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444175