Monday, March 2, 2020

CIT(A) was wrong in rejecting valuation of shares by comparing factual results with projection adopted by valuer

INCOME TAX : Where assessee company determined fair market value of shares issued at premium on basis of Discount cash flow method and valuation was done by a merchant banker, CIT(A) were unjustified in rejecting such valuation of shares by comparing factual results of company with projection adopted by valuer and changing method of valuation of shares to Net value added method

from www.taxmann.com Latest Case Laws https://ift.tt/2Ia34Gj
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