calculated based on the formula stipulated under Rule
11U and 11UA of the Income Tax Rule 1962 which has
not been carried ... Assessment order erroneous. Upon
applying the formula under Rule 11U and 11UA of the
Rules, the valuation of the shares come to only
Associates
for the purpose of Section 56 , read with Rule 11UA of the Rules, and noted that
the premium computed
fair market value of the
preference shares in terms of rule 11UA (1)(c)(c) of the Income Tax Rules. The
assessing officer instead ... Tribunal failed to consider one of the methods described under
Rule 11UA of the 1962 Rules was the "Designated free cash flow method
relying upon the Valuation Report under
2
Rule 11UA of the Income Tax Rules, 1962 and basing its
findings entirely on such Valuation Report without ... accepting the Valuation Report and relying upon
the same under Rule 11UA of the Income Tax Rules, 1962
mechanically and without ascertaining whether the Fair
