https://www.taxtmi.com/caselaws?id=795413 Rule 11UA(2) permits an assessee to choose between prescribed valuation methods for determining the fair market value of shares. Where the Net Asset Value method is chosen and its computation from audited financial statements contains no irregularity, tax authorities may scrutinise or revalue only within that method; they cannot reject it as unrealistic or substitute another basis. Alleged circumvention of foreign-exchange requirements falls outside the Income-tax Act and Rules where the overseas investment was authorised and no competent authority alleged a breach. In the absence of established tax benefit or unaccounted-money introduction, taxing excess premium on right shares under Section 56(2)(viib) was considered unsustainable. en-us Tue, 16 Jun 2026 00:00:00 +0530 Wed, 22 Jul 2026 08:48:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795413 Rule 11UA(2) permits an assessee to choose between prescribed valuation methods for determining the fair market value of shares. Where the Net Asset Value method is chosen and its computation from audited financial statements contains no irregularity, tax authorities may scrutinise or revalue only within that method; they cannot reject it as unrealistic or substitute another basis. Alleged circumvention of foreign-exchange requirements falls outside the Income-tax Act and Rules where the overseas investment was authorised and no competent authority alleged a breach. In the absence of established tax benefit or unaccounted-money introduction, taxing excess premium on right shares under Section 56(2)(viib) was considered unsustainable. Case-Laws Income Tax Tue, 16 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795413