Non-holding of enquiry for determination of FMV- Matter remanded back

CIT Vs M/s. Vaani Estates Pvt. Ltd. (Madras High Court)

Having heard the learned counsel for the parties and considering the aforesaid provisions, we are of the opinion that the learned Assessing authority was required to undertake the exercise of fact finding by determining the Fair Market Value of the Shares in question as required in the Explanation to Sec

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