Option of choosing method of valuation of shares stands vested solely in hands of assessee: Delhi HC

Agra Portfolio Pvt. Ltd. Vs PCIT (Delhi High Court) Delhi High Court held that conjoint reading of Section 56(2)(viib) read along with Rule 11UA(2), the option of choosing a method of valuation of shares stands vested solely in the hands of the assessee. Facts- Appellant has preferred the present appeal contesting judgement rendered by ITAT, wherein, ITAT has essentially upheld the additions made by AO consequent to the rejection of the fair market value evaluation as submitted by the appellant as contemplated u/s. 56(2)(viib) of the Income Tax Act, 1961, read along with Rule 11UA of the Inco...