AO can challenge method adopted for valuation of shares only if it wasn’t a recognized method as per Rule 11UA: ITAT

INCOME TAX : Method of valuation of shares adopted by assessee could be challenged by Assessing Officer only if it was not a recognized method of valuation as per rule 11UA(2)

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000316103/ao-can-challenge-method-adopted-for-valuation-of-shares-only-if-it-wasn’t-a-recognized-method-as-per-rule-11ua-itat.aspx