No Jurisdiction for AO to substitute NAV method of Assessing Valuation of Shares when Assessee Exercised DCF Valuation Method: HP HC [Read Order]

Assessing Officer not correct in rejecting the DCF method and proceeding to value the shares by NAV method merely on the ground that there was a huge difference in projected figures and actual results available for some years, rules HP HC
himachal pradesh high court - no jurisdiction for ao - net asset value - discounted cash flow - taxscan

In a recent decision, the Himachal Pradesh High Court held that the Assessing Officer lacks jurisdiction to substitute the net asset value ( NAV ) method of assessing valuation of shares when assessee exercised the Discounted Cash Flow ( DCF ) valuation method. In the assessment order, the valuation report furnished by the assessee-company was…

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