https://www.taxtmi.com/caselaws?id=792707 For valuing unquoted shares under Section 50CA read with Rule 11UA in an NCLT-supervised liquidation auction, unrealizable assets, doubtful receivables and items not conferring beneficial ownership were held to be excluded from fair market value. The adoption of book values without testing recoverability or economic substance was treated as a mechanical approach that distorted value. In the factual setting of a distress auction, the contemporaneous auction price was accepted as the more reliable indicator of fair market value, and the deemed consideration was recomputed accordingly for capital gains purposes. en-us Fri, 22 May 2026 00:00:00 +0530 Tue, 02 Jun 2026 08:47:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792707 For valuing unquoted shares under Section 50CA read with Rule 11UA in an NCLT-supervised liquidation auction, unrealizable assets, doubtful receivables and items not conferring beneficial ownership were held to be excluded from fair market value. The adoption of book values without testing recoverability or economic substance was treated as a mechanical approach that distorted value. In the factual setting of a distress auction, the contemporaneous auction price was accepted as the more reliable indicator of fair market value, and the deemed consideration was recomputed accordingly for capital gains purposes. Case-Laws Income Tax Fri, 22 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792707