https://www.taxtmi.com/caselaws?id=793753 Where an assessee values unquoted shares under Rule 11UA using the Discounted Cash Flow method, the Assessing Officer may scrutinise the valuation report and its assumptions but cannot reject the recognised method and substitute the Net Asset Value method merely because later actual results differ; the section 56(2)(viib) addition was deleted. Where no exempt income was earned during the year, section 14A read with Rule 8D could not be invoked for the pre-amendment assessment year; the disallowance was deleted. en-us Fri, 19 Jun 2026 00:00:00 +0530 Tue, 23 Jun 2026 08:08:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793753 Where an assessee values unquoted shares under Rule 11UA using the Discounted Cash Flow method, the Assessing Officer may scrutinise the valuation report and its assumptions but cannot reject the recognised method and substitute the Net Asset Value method merely because later actual results differ; the section 56(2)(viib) addition was deleted. Where no exempt income was earned during the year, section 14A read with Rule 8D could not be invoked for the pre-amendment assessment year; the disallowance was deleted. Case-Laws Income Tax Fri, 19 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793753