AO cannot Reject DCF Method For CCPS Valuation if it is made under Rule 11UA: ITAT deletes Addition [Read Order]
The tribunal observed that the AO’s reliance on the company’s subsequent financial losses to question the valuation is misplaced, as projections must be assessed based on the facts and data available at the time of valuation, not on future outcomes
By Varda Marakkar - On August 7, 2024 3:42 pm - 3 mins read
Recently, The Income Tax Appellate Tribunal (ITAT) of Ahmedabad dismissed an appeal moved by the Revenue department against a decision made in favor of the assessee in a matter regarding deletion of addition. The assessee, M/S Magnet Buildtech Private Limited, filed its return of income for the A.Y. 2016-17 on 26-09-2016 declaring the total income…
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