https://www.taxtmi.com/caselaws?id=468956 Valuation of unquoted shares under Rule 11UA remained central to the challenge to an addition under section 56(2)(viia), with the dispute turning on whether the Assessing Officer could replace the assessee's chosen valuation method. The text notes that the officer may examine the components of the valuation report and make adjustments where deficiencies exist, but cannot substitute the method itself. Because there was uncertainty about whether a later valuation report had been filed and both sides accepted that reconsideration was needed, the deletion of the addition was set aside and the matter was restored for fresh adjudication. en-us Mon, 10 Feb 2025 00:00:00 +0530 Tue, 26 May 2026 21:06:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468956 Valuation of unquoted shares under Rule 11UA remained central to the challenge to an addition under section 56(2)(viia), with the dispute turning on whether the Assessing Officer could replace the assessee's chosen valuation method. The text notes that the officer may examine the components of the valuation report and make adjustments where deficiencies exist, but cannot substitute the method itself. Because there was uncertainty about whether a later valuation report had been filed and both sides accepted that reconsideration was needed, the deletion of the addition was set aside and the matter was restored for fresh adjudication. Case-Laws Income Tax Mon, 10 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468956