AO has no power to reject method of valuation resorted in absence of any infraction

Advertisement ACIT Vs Gamma Pizzakraft (Overseas) Pvt Ltd (ITAT Delhi) ITAT Delhi held that the assessee has option to determine the method of valuation and the AO has no power to reject the method resorted by the assessee as no infraction of methodology has been brought out by the AO. Facts- The assessee is a Private Limited Company and holding company of wholly owned subsidiaries namely, M/s Gamma Pizzakraft Private Limited, M/s Gamma Pizzakraft Lanka Private Limited and M/s French Restaurants Private Limited. The assessee company is doing its operational and business activities of operat...