Determination of price in certain cases

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.... (a) the price of unquoted equity shares shall be the higher of,- (I) its cost of acquisition; (II) the fair market value of such equity shares determined, on the date of transaction, by a merchant banker or an accountant as per the Discounted Free Cash Flow method; and (III) the value, on the date of transaction, of such equity shares as determined in the following ....

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....ly:- (i) the paid-up capital in respect of equity shares; (ii) the amount set apart for payment of dividends on preference shares and equity shares; (iii) reserves and surplus, by whatever name called, even if the resulting figure is negative, other than those set apart towards depreciation; (iv) any amount representing provision for taxation, other than amount ....