This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Share Valuation Must Follow Rule 11UA, Not Isolated Third Party Transactions
Case Law Details
- Case Name
- Ramesh Chandra Vs DCIT (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Ramesh Chandra Vs DCIT (Delhi High Court)
The Delhi High Court quashed reassessment proceedings initiated under Section 148 of the Income-tax Act after finding that they were based solely on material already examined and rejected in earlier appellate proceedings. The reassessment notices relied on an alleged undervaluation of shares derived from a single transaction value of ₹179.73 per share. However, this very transaction had previously been scrutinised by the Income Tax Appellate Tribunal and upheld by the High Court in an earlier appeal, where it was held that share valuation must be det...
Author Info
