{"id":18128,"date":"2021-05-11T16:55:23","date_gmt":"2021-05-11T11:25:23","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=18128"},"modified":"2021-05-11T16:55:23","modified_gmt":"2021-05-11T11:25:23","slug":"can-the-assessing-officer-disregard-the-valuation-report-submitted-by-the-assessee-as-per-rule-11ua-of-rules","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/can-the-assessing-officer-disregard-the-valuation-report-submitted-by-the-assessee-as-per-rule-11ua-of-rules\/","title":{"rendered":"Can the Assessing Officer disregard the valuation report submitted by the Assessee as per Rule 11UA of Rules ?"},"content":{"rendered":"<p>Assessee submitted valuation report as per Rule 11UA determining valuation of share at Rs.32\/- per share. The Assessing Officer calculated Value of share as under:<br \/>\nShare Capital &#8211; A<br \/>\nReserves &#038; Surplus &#8211; B<\/p>\n<p>A + B divided by number of shares (c). The value came to Rs.22. The Assessing Officer made addition of Rs.10 i.e., Rs.32- Rs.22 in the hands of the company on the number of shares allotted by the company u\/s 56(2)(viib) of the Act. Please let us know whether the addition is justified. Any case law in support of the assessee. Please guide us how to proceed further.<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[58,57,56],"class_list":["post-18128","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-rule-11ua","qa_tag-shares","qa_tag-valuation"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/18128","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=18128"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=18128"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=18128"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=18128"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=18128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}