https://www.taxtmi.com/caselaws?id=790634 Section 56(2)(viib) requires the fair market value of unquoted equity shares to be determined under the prescribed Rule 11UA method for the relevant year of issue, and the issue price must be supported by valuation material applicable to that year. A valuation report accepted in an earlier year does not automatically govern a later year, and where no fresh report is available for the year under consideration, the factual basis is incomplete. The matter must then be examined afresh on proper scrutiny of the valuation under the prescribed method, rather than being decided solely on the existing material. en-us Fri, 24 Apr 2026 00:00:00 +0530 Tue, 28 Apr 2026 07:29:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790634 Section 56(2)(viib) requires the fair market value of unquoted equity shares to be determined under the prescribed Rule 11UA method for the relevant year of issue, and the issue price must be supported by valuation material applicable to that year. A valuation report accepted in an earlier year does not automatically govern a later year, and where no fresh report is available for the year under consideration, the factual basis is incomplete. The matter must then be examined afresh on proper scrutiny of the valuation under the prescribed method, rather than being decided solely on the existing material. Case-Laws Income Tax Fri, 24 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790634