AO cannot interfere & change method selected by assessee for share valuation: ITAT Bangalore

Pisces EServices Pvt Ltd Vs DCIT (ITAT Bangalore)

ITAT Bangalore held that AO not allowed to interfere in method selected for valuation of share by the assessee u/s. 56(2)(viib) of the Income Tax Act read with rule 11UA(2) of the Income Tax Rules. Thus, AO cannot change the method from DCF to NAV method.

Facts- Assessee, a private limited company, is engaged in the business of food delivery. The assessee at the start of the financial year and during the financial year was the subsidiary company of a foreign company viz., Delivery Hero based in Germany. The h

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