Court Rules on Share Valuation: Use Balance Sheet as of Valuation Date u/s 56(2)(vii)(c) Income Tax Act.

Addition u/s 56(2)(vii)(c) - determination of FMV of shares - drawing up a balance sheet as on valuation date or previous audited balance sheet is to be taken as the base - there was nothing preventing the appellant from drawing up the balance sheet of GEPL as on that date for the limited purpose. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X