Accountants report wherein the
shortage/ valuation of Current Assets were reported. The AO has not pointed
out any defect in the report of the chartered ... accounts.'
It is also seen that the Chartered Accountant appointed for the above
purpose had submitted their report in respect of the steel stock
course of appellant's book keeping. In their report the
Chartered Accountant reported that few items of raw materials were physically found ... Chartered Accountants to undertake
physical verification of the stocks at company's different plants. The appointment of the
said Chartered Accountant and the physical
course of
appellant's book keeping. In their report the Chartered Accountant reported that few
items of raw materials were physically found ... Chartered
Accountants to undertake physical verification of the stocks at company's different
plants. The appointment of the said Chartered Accountant and the physical
issue
of shares at premium along with valuation report of an independent
Chartered Accountant Firm.
7. Thereafter, the Assessee vide its letter filed on March ... that during the course of assessment
proceedings a valuation report obtained from a Chartered
Accountant was filed in support of the said valuation which
when this Balance Sheet
became available to the assessee, valuation report from the Chartered
Accountant was obtained for the valuation of the impugned shares.
Based ... which the assessee has exercised by getting a valuation
report from a Chartered Accountant in terms of requirement of Rule
11UA of the Income
loss was determined on the basis of audit report of
Chartered Accountant, which was prepared on the basis of seized documents including ... that the loss was allowed on the basis of audit report of the Chartered
Accountant wherein the auditor has specifically referred to about
basis on
which valuation report has been prepared because of
not considering the fact that the report of the Chartered
Accountant submitted under Discounted Free ... expert, which is in this case is an accountant
(practising Chartered Accountant) should be accepted, as the actual
results are not in control
garden undertakings for which
the assessee furnished the Chartered Accountant report in form
10CEB in respect of audited of accounts of the eligible undertakings
value of equity shares as determined in the Share Valuation Report
by the Chartered Accountant. As per the Share Valuation Report, the
fair value ... assessment order, the reply of
the assessee and the valuation report of the Chartered Accountant and
has observed as under:
"8.2 In the valuation
compliance to section 80IE(6) the appellant had filed a report of
chartered accountant for claim of 80IE as assessee was carrying on
eligible business ... state of Meghalaya and
had furnished 10CCB report of a chartered accountant regarding the eligibility
of deduction 80IE claiming deduction
