Tribunal held that the assessee had followed an accepted method of valuation of shares and thus, addition made by AO is held to be not justified. High Court up held the order of the Tribunal.
PCIT v. Microfilm Capital (P.) Ltd. (2020)113 taxmann.com 88 / 269 Taxman 2 (Cal.)(HC) Editorial : SLP of revenue is dismissed; PCIT v. Microfilm Capital (P.) Ltd. (2020) 269 Taxman 1 (SC)
S. 145 : Method of accounting-Valuation of shares-No question of law. [S. 260A]