accounting
the amalgamation and net asset value method instead of
discounted cash flow method to compute the goodwill by the AO.
3. The facts ... worked out at Rs.
62,79,73,780/-. The assessee followed discounted cash flow
method to value the goodwill which was rejected
without appreciating the fact that Share Valuation Certificate
under Discounted Cash Flow Method (DCF) submitted by the
9 ITA No.7175/Del/2018
Appellant ... Appellant without having
sufficient material against the value arrived by following
Discounted Cash Flow Method (DCF).
5. That on the facts, and in the circumstances
that the Cash Flow projections taken into account in
the Discounted Cash Flow Method by the assessee are nothing
but paper plans that have ... substantiate the basis of projections in cash flow and provide a
reasonable nexus between such projections in cash flow with reality. He
submitted that
valuation of shares as on date
of issue on Discounted Cash Flow (DCF) method and valued share at
Rs.2061.35 per share. The assessee ... report from M/s. SSPA & Co., Chartered
Accountants by adopting Discounted Cash Flow (DCF) methods
permitted by Rule 11UA(2)(b) of Income
that case , the shares were valued on the basis of discounted cash flow method and
the Tribunal noted that the assessee did not produce ... that case, the shares were valued
on the basis of discounted cash flow method and it was found by the Tribunal that
the assessee
rejecting the
justification of Share Premium on the basis of Discounted
Cash Flow (DCF) method.
3. That the Ld. CIT (Appeals) has erred on facts ... basis of Valuation Report by qualified
Chartered Accountant following Discounted Cash Flow
(DCF) method.
4. That the Ld. CIT (Appeals) has erred on facts
methods prescribed under Rule 11UA are Book value
Method (NAV) and Discounted Cash flow method); or
(b) as may be substantiated by the company ... dated 28/03/2013 issued by the Chartered
Accountants. Based on Discounted Cash Flow (DCF) method, the valuer
recommended fair value of the shares
5139/Mum./2017
Act. Thereafter, the A.O applied the discounted cash flow method and after
valuing the trademark and copyright ... Essar"
brand, trademarks and copyrights, under the Discounted Cash Flow(DCF)
method."
7.1 It was submitted by the ld. D.R that
that case , the shares were valued on the basis of discounted cash flow method
and the Tribunal noted that the assessee did not produce ... that case, the shares were
valued on the basis of discounted cash flow method and it was found by the
Tribunal that the assessee
Methods prescribed under Rule 11UA
are Book value Method (NAV) and Discounted Cash flow
method); or
(b) as may be substantiated by the company ... other business or commercial
rights of similar nature,"
6. Discounted Cash Flow method (DCF method) was recognised in
Rule 11UA w.e.f. from
