https://www.taxtmi.com/caselaws?id=468754 For the relevant assessment year, Rule 11UA required valuation of unquoted equity shares on the book-value method reflected in the balance sheet, and the amended valuation method effective from 01.04.2018 could not be applied retrospectively. The addition under section 56(2)(vii)(c) was also unsupported because the Assessing Officer valued the underlying shares of the ultimate investee company instead of applying the prescribed formula to the shares actually transferred. On these facts, the appellate deletion of the addition was affirmed in favour of the assessee. en-us Wed, 25 Mar 2026 00:00:00 +0530 Tue, 19 May 2026 18:56:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468754 For the relevant assessment year, Rule 11UA required valuation of unquoted equity shares on the book-value method reflected in the balance sheet, and the amended valuation method effective from 01.04.2018 could not be applied retrospectively. The addition under section 56(2)(vii)(c) was also unsupported because the Assessing Officer valued the underlying shares of the ultimate investee company instead of applying the prescribed formula to the shares actually transferred. On these facts, the appellate deletion of the addition was affirmed in favour of the assessee. Case-Laws Income Tax Wed, 25 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468754