Share Valuation Method Contested: Net Asset Value Method Deemed Inappropriate u/s 56(2)(viib), Rule 11UA Amendments Considered.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Excess premium charged on issue of shares u/s.56(2)(viib) - The value adopted by the Assessing Officer under net asset value method even though a prescribed method does not give correct value of shares in the given facts and circumstances of the case, because amended provisions of Rule 11UA by the Finance Act, 2017 w.e.f 01.04.2018 has permitted valuation of immovable property as per guidance value for the purpose of valuation of shares. - value of shares arrived at by Assessing Officer under net asset value method cannot be accepted - AT....