Taxpayer Can Choose Valuation Method for Shares' Fair Market Value u/s 56(2)(viib); Rule 11UA(1)(c)(b) Applies.

Income from other sources - Addition u/s.56(2)(viib) - The revenue authorities cannot force the assessee to adopt particular method for valuing the fair market value of the share especially when Rule 11UA(1)(c)(b) provides that it is the option of the assessee to chose any method either discounted or book value method for estimating the fair market value of the shares issued by it during the relevant financial period. - AT .....

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