value as per the method prescribed in income tax rules
11U and 11UA of the Rules or as may be substantiated by the company ... Cash Flow method
which is one of the prescribed method under Rule 11UA, of the
Income-Tax Rules, 1962. As per the provisions of Rule
under Section 56(2) (viib) of
the ITA, 1961 r.w. Rule 11UA of the I-T Rules 1962 and therefore, the
said addition ... appreciating that choice of a valuation method, as per Rule
11UA(2) rests with the Appellant Company and not with the AO and
hence
under Section 56(2) (viib) of
the ITA, 1961 r.w. Rule 11UA of the I-T Rules 1962 and therefore, the
said addition ... appreciating that choice of a valuation method, as per Rule
11UA(2) rests with the Appellant Company and not with the AO and
hence
Companies Act, 2013 coming into force. The Assessee cited
Rule 11UA providing for determination of the market value of shares
as per DCF method which ... shares is to be made as per the
provisions of Rule 11UA(1) and not as per provisions of
Rule 11UA
premium as
per section 56(2)(viib) of the Act and rule 11UA of I.T. Rules.
Ld. AR submitted share valuation report which ... rule 11UA but valuation of shares was done as per 'Adjusted Net
Asset Method and as per 'future earning analysis.
Ld. AO noted
share which was stated to have been calculated in terms
of rule 11UA(2)(a) of the Income Tax Rules, 1962 and made the
addition ... Income Tax (A) erred in rejecting the valuation report
as per rule 11UA submitted during assessment proceedings and also
erred in confirming
prescribed
under section 56(2)(viib) of the Act read with Rule 11UA of the Income Tax Rules,
1962 (The Rules ... holding that the fair market value of the shares as per rule 11UA(2)(a) is in a
negative figure, therefore, considering the facts
prescribed
method of valuation in accordance with the Rule 11U & 11UA
of Income Tax Rule, 1962 with respect to the unquoted shares.
2. Whether ... 50CA in
accordance with the Rule 11U & 11UA of Income Tax Rules,
1962.
3. Whether in the facts and circumstances of the case
ascertained in the manner as prescribed in Rule 11UA
Income Tax Rules, 1962 (herein after 'the Rules') and that no other
method ... Power
was commensurate with their respective FMVs computed in terms of Rule
11UA(1). The assessee also furnished valuation certificate dated
06.07.2020 obtained
value of such shares as determined under Rule 11UAA read with Rule
11UA of Income Tax Rules, 1962, the fair market value so determined,
shall ... section 48 of the Act. Further, Rule 11UAA read with Rule 11UA
prescribes the method for determination of fair market value as on the
date
