In absence of any defect DCF valuation method of Assessee cannot be rejected

Intelligrape Software Pvt. Ltd. Vs ITO (ITAT Delhi) When the assessee Company had opted for valuation of unquoted equity shares in accordance with DCF method as prescribed under clause (b) of specific Rule 11UA(2) as applicable, the AO/CIT(A) had no power/authority to change such valuation methodology and adopt a different book value method as prescribed under clause (a) of such Rule and hence such action of the authorities below was arbitrary. It is trite law that “when a statute requires, a thing to be done in a certain manner, it shall be done in that manner alone and not otherwise” (CI...