{"id":4763,"date":"2019-04-08T09:12:46","date_gmt":"2019-04-08T09:12:46","guid":{"rendered":"http:\/\/itatonline.org\/digest\/kottaram-agro-foods-p-ltd-v-acit-2019-175-itd-159-bang-trib\/"},"modified":"2019-06-23T14:52:47","modified_gmt":"2019-06-23T14:52:47","slug":"kottaram-agro-foods-p-ltd-v-acit-2019-175-itd-159-bang-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/kottaram-agro-foods-p-ltd-v-acit-2019-175-itd-159-bang-trib\/","title":{"rendered":"Kottaram Agro Foods (P.) Ltd. v. ACIT  (2019) 175 ITD 159 \/ 199 TTJ 402\/ 177 DTR 370 (SMC)(Bang.) (Trib.)"},"content":{"rendered":"<p>For purpose of sub-rule (2) of rule 11UA, an auditor cannot be accountant of assessee-company, therefore, where person who valued shares of assessee-company was none other than person who signed audit report under section 44AB, Assessing Officer was justified in ignoring valuation report submitted by assessee and determining fair market value on basis of NAV.\u00a0 Share of 10 was valued at Rs. 400 i.e. Premium of Rs.390 was rejected. Tribunal also observed that share was\u00a0 valued\u00a0 at Rs.100 per share as on 2-2-2012 and on 15-11-2013 at Rs. 400 per share.\u00a0\u00a0\u00a0\u00a0 \u00a0(AY.2014-15, 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 56 : Income from other sources-Share premium-For purpose of sub-rule (2) of rule 11UA, an auditor cannot be account  of assessee-company. [S. 44AB, 56(2)(viib), 288(2)]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4763","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1eP","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=4763"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4763\/revisions"}],"predecessor-version":[{"id":5903,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4763\/revisions\/5903"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=4763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=4763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=4763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}