Determination of value of royalty through a Valuation Report of ...

Royalty Valuation Must Rely on Expert Report; Independent AO Valuation Deemed Erroneous Under Legal Standards.

August 10, 2023

Case Laws Income Tax AT

Determination of value of royalty through a Valuation Report of an expert - In case, AO was not satisfied or convinced with the Valuation Report of the expert valuer, proper course for him would have been to seek opinion of a second valuer on the Valuation Report furnished by the assessee. Instead of doing that, the AO has taken it upon himself to undertake the exercise on valuation of the royalty. This, in our view, is totally erroneous and against settled legal principles. - AT

View Source

← Previous Next →

Determination of value of royalty through a Valuation Report of ...

Royalty Valuation Must Rely on Expert Report; Independent AO Valuation Deemed Erroneous Under Legal Standards.

August 10, 2023

Case Laws Income Tax AT

You may also like:

Addition u/s 56(2)(viib) - Method of Valuation - share premium receipts - The Tribunal noted that the appellant had obtained a valuation report from a registered valuer,...

Addition of share premium u/s 56(2)(viib) - Rule 11UA(2)(b) - rejection of valuation - there is no enabling provision under the Rule or the Act where AO has been given a...

PCIT invoked section 263 against order of AO accepting valuation report of merchant banker determining share value at premium. ITAT held that AO failed to make proper...

Estimation of cost of extraction of ore - AO gravely erred in relying upon the valuation report submitted by a Registered Valuer while assessing the income of the...

The ITAT Ahmedabad considered the validity of reassessment proceedings based on borrowed satisfaction by the AO. The AO alleged non-independent application of mind by...

The Commissioner of Income Tax (CIT) directed the Assessing Officer (AO) to compute the assessee's income by adding the difference in valuation of shares u/s 56(2)(viib)....

u/s 56(2)(vii)(b), the addition was made based on the difference between the stated value and the District Valuation Officer's (DVO) valuation. It was held that an...

Capital gain computation - FMV determination - The opinion of an expert cannot be brushed aside in a whimsical manner. Specially when law mandates the evidence of an...

Civil liability for mis-statements in prospectus - No person shall be liable if he relied bonafidely upon report or statement made by an expert or an extract a report or...

Addition on account of share premium received u/s 56(2)(viib) - AO has not examined the DCF method of valuation submitted by the assessee and the value of shares...

Addition solely on the basis of Departmental valuation report – addition cannot be justified solely relying upon the valuation report - HC

TP adjustment made on buy back of shares - The TPO has not explained the basis or rationale for adopting figures from different valuation reports. The assessee followed...

The ITAT considered an appeal regarding addition u/s 56(2)(viib) concerning the valuation of preference shares. The Assessee lacked a valuation report supporting the...

The assessee objected to the valuation report prepared by the district valuation officer and the stamp duty rate. The assessing officer referred the matter to the...

Final Report on General Anti Avoidance Rules (GAAR) in Income-tax Act, 1961 Expert Committee (2012)

Quick Updates: