Dismissing the appeal of the revenue the Tribunal held that ; for determining the fair market value of shares  sold , choice of method of valuation is with the assessee. Rule 11UA allows the assessee the right to adopt the method of his choice for valuing shares (DCF, NAV etc). The AO has no jurisdiction to insist that the assessee should adopt only a particular method for determining the value of the shares. Until and unless the legislature amends the provision of the Act and prescribes only one method for valuation of shares,  the assessees are free to adopt any one method of their choice . AO  should not deviate from earlier years’ decisions without assigning any concrete and justifiable reasons. Tax determination cannot be left to whims and fancies of a person. It is a serious task and has to be accomplished in a disciplined manner. If an assessee has been allowed a certain concession in earlier year/(s) it cannot be withdrawn in subsequent years without plausible reasons. .( ITA No. 4854/Mum/2016, dt. 02.05.2018) (AY. 2013-14)