Thursday, May 9, 2019

AO couldn't change method of determining FMV of shares consistently accepted in prior years

IT: Where assessee-company had been consistently determining fair market value of shares as per 'Discounted Cash Flow' method which was accepted by revenue, Assessing Officer was unjustified in adopting 'Book Value' method in current year; addition on account of premium on issue of share, thus made, was to be deleted

from www.taxmann.com Latest Case Laws http://bit.ly/2JrZmd3

No comments:

Post a Comment

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...