Question And Answer
Subject: 50D
Querist: bs
Answered by:
Tags: ,
Date: June 20, 2023
Query asked by bs

can AO reduce share valuation of unquoted shares sod u/s 50D vis a vi s one adopted by Assessee and deny 54F to that extent  ?

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If the valuation of shares is backed by a report of valuation as per Rule 11UA of the Income-tax Rules, 1962, the same cannot be denied by the Assessing Officer.

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3 comments on “50D
  1. vswami says:

    EXpert may kindly look through all the inter-connected RULES , so as to self-assure and be fully convinced that the ANSWER given in safeproof to be guided by.

    One point that instantly crops up in my mind: Has not the AO been given power to refer to and ask for an indpendent valution report from a DEPARTMENTAL VALUER before accepting the valuation report relied upon by taxpayer !?!


    SUGGEST strongly but sincely to look through the ongoing interaction / debate in relation to ‘FMV’, for which asseesse has been given an option to adopt-in reference to the old and new INDEXATION Tables for income-tax purposes – will you!

    CRoss refer the REPLIES posted elsewhere herein itself !

  2. vswami says:

    ADMN: Will you please consider and decide to enable any one interested to post a REPLY in one-go; that is by providing facility to later EDIT own reply if so necessitated !


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