https://www.taxtmi.com/caselaws?id=468022 DCF-based valuation of unquoted shares was accepted as a recognised method where the assessee supported its investment valuation with a report and related market factors, including the valuation used in SAFL's rights issue. The Revenue did not establish any specific defect in the methodology or underlying data, and a valuation could not be rejected merely on suspicion or general caveats. The Assessing Officer was therefore not justified in substituting book value for the adopted DCF method, and the addition under section 56(2)(viib) could not be sustained; the impugned addition was deleted. en-us Fri, 05 Jul 2024 00:00:00 +0530 Mon, 13 Apr 2026 21:19:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468022 DCF-based valuation of unquoted shares was accepted as a recognised method where the assessee supported its investment valuation with a report and related market factors, including the valuation used in SAFL's rights issue. The Revenue did not establish any specific defect in the methodology or underlying data, and a valuation could not be rejected merely on suspicion or general caveats. The Assessing Officer was therefore not justified in substituting book value for the adopted DCF method, and the addition under section 56(2)(viib) could not be sustained; the impugned addition was deleted. Case-Laws Income Tax Fri, 05 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468022