Tribunal held that an assessee has two choices and he may adopt either Net Asset Value (NAV) method or Discounted Cash Flow (DCF) method; Assessing Officer can determine a fresh valuation but cannot change method of valuation which has been opted by assessee.  Whether at time of valuing shares during allotment, actual results of later years would not be available; therefore, what is required for arriving at fair market value by following DCF method are expected and projected revenues and, accordingly, valuation is done on basis of estimates of future income contemplated at point of time when valuation is made. For scrutinizing valuation report, facts and data available on date of valuation only has to be considered. Matter remanded.  (AY. 2013-14)