AO couldn't change method of valuation if shares issued at premium were valued in accordance with rule 11UA

IT : Where assessee company determined Fair Market Value of shares issued at premium on basis of Discount Cash Flow method in accordance with rule 11UA(2)(b) read bith section 56(2)(viib) and valuation report was prepared as per guidelines given by ICAI and no fault was found in same, Assessing Officer was unjustified in changing method of valuation of shares at premium to Net Asset Value method

from www.taxmann.com Latest Case Laws https://ift.tt/2CkI4g1