Held that in terms of section 56(2)(viib),read with rule 11UA, fair market value of unquoted equity shares would be their value as on date Matter was restored to Assessing Officer to determine same as per rule 11UA, read with rule 11U. (AY. 2013-14)
Chandhok Cold Storage (P.) Ltd. v. ITO (2024) 204 ITD 17 / 227 TTJ 744 (SMC)) (Raipur) (Trib.)
S. 56 : Income from other sources-Fair market value-Unquoted equity shares-Valuation date-Value as on date on which assessee company receives property or consideration-Matter remanded. [S. 56(2)(viib), R. 11UA]
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