https://www.taxtmi.com/caselaws?id=769446 The SC/Tribunal addressed key issues regarding valuation of unquoted equity shares under Income Tax Act section 56(2)(viib) for AY 2017-18. The court held that while book value should be used for valuation, the assessee can substantiate fair market value using market rates. The AO was directed to refer valuation to the Departmental Valuation Officer for independent assessment, setting aside the original addition and remanding the matter for fresh adjudication in accordance with prescribed legal principles. en-us Wed, 23 Apr 2025 00:00:00 +0530 Fri, 25 Apr 2025 08:53:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769446 The SC/Tribunal addressed key issues regarding valuation of unquoted equity shares under Income Tax Act section 56(2)(viib) for AY 2017-18. The court held that while book value should be used for valuation, the assessee can substantiate fair market value using market rates. The AO was directed to refer valuation to the Departmental Valuation Officer for independent assessment, setting aside the original addition and remanding the matter for fresh adjudication in accordance with prescribed legal principles. Case-Laws Income Tax Wed, 23 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769446