In Section 56(2)(viib) of Income Tax Act, Assessing Officer’s wide discretion on valuation faces constraints from rules and tribunal judgments. This article explores three issues: changing valuation methodology, challenging FMV due to lack of documents, and rejecting Discounted Cash Flow based on cash flow variations.
Discover the Assessing Officer’s authority to challenge valuations under Section 56(2)(viib). Learn about valuation methods, legal precedents, and implications for businesses.
