Valuation per share as per Rule 11UA of the Income Tax Rules, 1962

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Last updated: 20 July 2021
Quick Summary
This ITAT Mumbai ruling addresses an appeal concerning the addition of Rs. 60,67,429 made under Section 56(2)(viib) of the Income Tax Act for the assessment year 2015-16. The addition was made when a wholly-owned subsidiary issued shares to its holding company in exchange for transferred assets and liabilities, valued under a High Court-approved Scheme of Arrangement. The assessee argued that the share issue price met the book value criteria under Rule 11UA, and the Assessing Officer (AO) erred in recalculating the valuation and reducing deferred tax liability.

Court :
ITAT Mumbai

Brief :
This appeal by the Assessee is directed against the order of learned CIT(A)-06 dated 26.09.2018 and pertains to Assessment Year 2015-16.

Citation :
I.T.A. No. 6940/Mum/2018

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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