https://www.taxtmi.com/caselaws?id=776164 The ITAT Hyderabad held that the AO cannot change the method of valuation of unquoted shares from the DCF method adopted by the assessee to the NAV method. While the AO may scrutinize or reject the valuation report, the valuation method chosen by the assessee must be maintained. The AO is entitled to seek a fresh valuation but only based on the method originally adopted by the assessee. The change of valuation method by the AO was held to be legally impermissible. The matter was remanded to the AO for fresh adjudication consistent with this principle. The assessee's appeal was allowed for statistical purposes. en-us Thu, 02 Jan 2025 00:00:00 +0530 Wed, 06 Aug 2025 08:19:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776164 The ITAT Hyderabad held that the AO cannot change the method of valuation of unquoted shares from the DCF method adopted by the assessee to the NAV method. While the AO may scrutinize or reject the valuation report, the valuation method chosen by the assessee must be maintained. The AO is entitled to seek a fresh valuation but only based on the method originally adopted by the assessee. The change of valuation method by the AO was held to be legally impermissible. The matter was remanded to the AO for fresh adjudication consistent with this principle. The assessee's appeal was allowed for statistical purposes. Case-Laws Income Tax Thu, 02 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776164