AO cannot Change Valuation of Shares Method Selected u/s 56(2)(viib) r.w. Rule 11UA(2): ITAT

AO cannot change the valuation method of shares selected by the assessee under Section 56(2)(viib) read with Rule 11UA(2), according to the ITAT. The ruling emphasizes that once the assessee chooses a method for share valuation, the Assessing Officer (AO) cannot substitute it with another method. This decision protects the assessee's right to select the valuation method and ensures consistency and fairness in the application of tax laws.