Thursday, March 18, 2021

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

INCOME TAX : Where assessee allotted preference shares to various residents at a premium, Assessing Officer could have determined a fresh valuation but could not have changed DCF method of valuation adopted by assessee

from www.taxmann.com Latest Case Laws https://ift.tt/3eRM2OE

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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...