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| The Tax Publishers2020 TaxPub(DT) 0550 (Cal-HC) INCOME TAX ACT, 1961
Section 260A
The views canvassed by Revenue would at best be described as plausible views on methods of accounting valuation of shares. But finding of Tribunal was accepted that “the valuer had followed an accepted method of valuation and had based his decision on relevant material. Thus, appeal filed by Revenue was dismissed.
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Appeal (High Court) - Methods of accounting - Valuation of sharers--Maintainability of -
Revenue filed this appeal before Court against the order of Tribunal accepting the methods of accounting valuation of sharers followed by assessee. Held: The views canvassed by Revenue would at best be described as plausible views on methods of accounting valuation of shares. But finding of Tribunal was accepted that valuer had followed an accepted method of valuation and had based his decision on relevant material. Thus, appeal filed by Revenue was dismissed.
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
IN THE CALCUTTA HIGH COURT
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