AO cannot interfere in assessee's chosen valuation method u/s ...

AO can't reject DCF method & apply NAV for share valuation. Independent parties' Rs 13.94/share value accepted under FEMA/RBI.

Case Laws Income Tax

August 12, 2024

AO cannot interfere in assessee's chosen valuation method u/s 56(2)(viib). AO exceeded jurisdiction by rejecting DCF method and applying NAV method. Transaction between independent parties at Rs. 13.94 per share accepted under FEMA and RBI guidelines. Same value adopted by assessee cannot be disturbed for share issue. Addition u/s 56(2)(viib) deleted. Assessee's appeal allowed.

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AO cannot interfere in assessee's chosen valuation method u/s ...

AO can't reject DCF method & apply NAV for share valuation. Independent parties' Rs 13.94/share value accepted under FEMA/RBI.

Case Laws Income Tax

August 12, 2024

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