Assessing Officer not empowered to reject selection and valuation methods adopted by Taxpayer: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held that the Assessing Officer (AO) is not empowered to reject selection and valuation methods adopted by taxpayers. The assessee company, M/s. GSE Commerce Private Ltd. operates in the service sector. During the year under consideration, it has issued 3511 equity shares having a face value of […]

from Taxscan | Simplifying Tax Laws https://ift.tt/2FVoDNq