Court Reviews Equity Valuation u/s 56(2)(viib) and Rule 11UA(2); Emphasizes Consistent Assessment of DCF Method Report.

Addition u/s 56(2)(vii b) - value the equity shares using DCF Method - the Lower Authorities ought to have considered the valuation report of the Chartered Accountant submitted by the assessee and should have verified as to whether the said valuation report is inconformity with Section 56(2) (viib) of the Act read with Rule 11UA (2) of the Income Tax Rules or not and accordingly shoud have decided the matter by following the principal of consistency. - AT .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X