Section 56(2)(viib)/ Rule 11UA: The assessee has the choice to choose a prescribed method for ascertaining the market value of the shares transferred. If the assessee has chosen one method of valuation provided under Rule 11UA (i.e. DCF method), the Assessing Officer has no power or jurisdiction to change that method to another method

Karmic Labs (P) Ltd v. ITO – Date of Judgement : 28.07.2020 (ITAT Mumbai) ITA No.3955/Mum/2018   The ld. Assessing […]