Share valuation report duly accepted by AO couldn't be by tinkered with by CIT(A): ITAT

Where assessee allotted shares of a company held by it on premium and substantiated valuation of shares to satisfaction of Assessing Officer that same was on basis of valuation report provided by valuer of said company whose shares were held by it wherein valuer had applied Direct Cash Flow (DCF) method and said report was certified by an independent Chartered Accountant and Assessing Officer accepted such valuation, Commissioner (Appeals) was unjustified in rejecting impugned valuation or valuation method

Refer:[2019] 104 taxmann.com 385 (Delhi - Trib.)