Wednesday, July 15, 2020

AO cannot change valuation method adopted by assessee while determining fresh valuation of shares

INCOME TAX: To determine fair market value of share allotted in lieu of purchase consideration payable for an acquired asset, an assessee has two choices - He may adopt either NAV method or DCF method; Assessing Officer can determine fresh valuation but cannot change method of valuation opted by Assessee

from www.taxmann.com Latest Case Laws https://ift.tt/30cXYBD

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...