https://www.taxtmi.com/highlights?id=98783 For section 50CA, valuation of unquoted equity shares must follow Rule 11UAA read with Rule 11UA(1), and the Assessing Officer could not insist on a merchant banker report by importing the regime meant for section 56(2)(viib). The assessee's Chartered Accountant valuation under the Net Asset Value method showed a fair market value below the actual sale price, so the declared consideration could not be substituted merely because fresh shares had earlier been issued to the same buyer at a higher price. The ITAT upheld deletion of the addition, finding no basis for an adjustment under section 50CA. en-us Tue, 14 Apr 2026 08:03:25 +0530 Tue, 14 Apr 2026 08:03:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=98783 For section 50CA, valuation of unquoted equity shares must follow Rule 11UAA read with Rule 11UA(1), and the Assessing Officer could not insist on a merchant banker report by importing the regime meant for section 56(2)(viib). The assessee's Chartered Accountant valuation under the Net Asset Value method showed a fair market value below the actual sale price, so the declared consideration could not be substituted merely because fresh shares had earlier been issued to the same buyer at a higher price. The ITAT upheld deletion of the addition, finding no basis for an adjustment under section 50CA. Highlights Income Tax Tue, 14 Apr 2026 08:03:25 +0530 https://www.taxtmi.com/highlights?id=98783