{"id":1493,"date":"2025-06-24T11:46:42","date_gmt":"2025-06-24T11:46:42","guid":{"rendered":"https:\/\/bhatiabhola.com\/?p=1493"},"modified":"2025-06-24T11:46:43","modified_gmt":"2025-06-24T11:46:43","slug":"income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2","status":"publish","type":"post","link":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/","title":{"rendered":"Income Tax HC Judgement Dated 30\/05\/2025 – Valuation of unquoted equity shares by DCF method permissible under rule 11UA(2)"},"content":{"rendered":"\n

Case of PCCIT vs AH Multisoft Pvt Ltd, HC Delhi Judgement Dated 30th<\/sup>\u00a0May 2025.<\/em>\u00a0HC held that valuation of unquoted equity shares held by the assessee by Discounted Cash Flow (DCF) method is permissible under rule 11UA(2) of the Income Tax Rules. Accordingly, appeal of revenue dismissed.\u00a0<\/p>\n\n\n\n

(Link: HC Delhi Judgement Dated 30\/05\/2025)<\/em><\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Case of PCCIT vs AH Multisoft Pvt Ltd, HC Delhi Judgement Dated 30th\u00a0May 2025.\u00a0HC held that valuation of unquoted equity […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[8,15],"tags":[],"class_list":["post-1493","post","type-post","status-publish","format-standard","hentry","category-income-tax","category-judiciary"],"yoast_head":"\nIncome Tax HC Judgement Dated 30\/05\/2025 - Valuation of unquoted equity shares by DCF method permissible under rule 11UA(2) - Bhatia Bhola & Associates LLP<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Income Tax HC Judgement Dated 30\/05\/2025 - Valuation of unquoted equity shares by DCF method permissible under rule 11UA(2) - Bhatia Bhola & Associates LLP\" \/>\n<meta property=\"og:description\" content=\"Case of PCCIT vs AH Multisoft Pvt Ltd, HC Delhi Judgement Dated 30th\u00a0May 2025.\u00a0HC held that valuation of unquoted equity […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/\" \/>\n<meta property=\"og:site_name\" content=\"Bhatia Bhola & Associates LLP\" \/>\n<meta property=\"article:published_time\" content=\"2025-06-24T11:46:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-06-24T11:46:43+00:00\" \/>\n<meta name=\"author\" content=\"Yash Bhola\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Yash Bhola\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/\"},\"author\":{\"name\":\"Yash Bhola\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c\"},\"headline\":\"Income Tax HC Judgement Dated 30\/05\/2025 – Valuation of unquoted equity shares by DCF method permissible under rule 11UA(2)\",\"datePublished\":\"2025-06-24T11:46:42+00:00\",\"dateModified\":\"2025-06-24T11:46:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/\"},\"wordCount\":70,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/bhatiabhola.com\/#organization\"},\"articleSection\":[\"Income Tax\",\"Judiciary\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/\",\"url\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/\",\"name\":\"Income Tax HC Judgement Dated 30\/05\/2025 - Valuation of unquoted equity shares by DCF method permissible under rule 11UA(2) - Bhatia Bhola & Associates LLP\",\"isPartOf\":{\"@id\":\"https:\/\/bhatiabhola.com\/#website\"},\"datePublished\":\"2025-06-24T11:46:42+00:00\",\"dateModified\":\"2025-06-24T11:46:43+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/bhatiabhola.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Income Tax HC Judgement Dated 30\/05\/2025 – Valuation of unquoted equity shares by DCF method permissible under rule 11UA(2)\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/bhatiabhola.com\/#website\",\"url\":\"https:\/\/bhatiabhola.com\/\",\"name\":\"Bhatia Bhola & Associates LLP\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/bhatiabhola.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/bhatiabhola.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/bhatiabhola.com\/#organization\",\"name\":\"Bhatia Bhola & Associates LLP\",\"url\":\"https:\/\/bhatiabhola.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/bhatiabhola.com\/wp-content\/uploads\/2025\/04\/cropped-cropped-Screenshot-2025-04-29-at-7.15.27\u202fAM.png\",\"contentUrl\":\"https:\/\/bhatiabhola.com\/wp-content\/uploads\/2025\/04\/cropped-cropped-Screenshot-2025-04-29-at-7.15.27\u202fAM.png\",\"width\":1709,\"height\":376,\"caption\":\"Bhatia Bhola & Associates LLP\"},\"image\":{\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c\",\"name\":\"Yash Bhola\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/bhatiabhola.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/aead41d7b2f010c8a719d781a6360aab0ad14fcb72ed48e049d2bbe80a30a6f8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/aead41d7b2f010c8a719d781a6360aab0ad14fcb72ed48e049d2bbe80a30a6f8?s=96&d=mm&r=g\",\"caption\":\"Yash Bhola\"},\"url\":\"https:\/\/bhatiabhola.com\/index.php\/blog\/author\/bba_ypbhola\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Income Tax HC Judgement Dated 30\/05\/2025 - Valuation of unquoted equity shares by DCF method permissible under rule 11UA(2) - Bhatia Bhola & Associates LLP","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/","og_locale":"en_US","og_type":"article","og_title":"Income Tax HC Judgement Dated 30\/05\/2025 - Valuation of unquoted equity shares by DCF method permissible under rule 11UA(2) - Bhatia Bhola & Associates LLP","og_description":"Case of PCCIT vs AH Multisoft Pvt Ltd, HC Delhi Judgement Dated 30th\u00a0May 2025.\u00a0HC held that valuation of unquoted equity […]","og_url":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/","og_site_name":"Bhatia Bhola & Associates LLP","article_published_time":"2025-06-24T11:46:42+00:00","article_modified_time":"2025-06-24T11:46:43+00:00","author":"Yash Bhola","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Yash Bhola","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/#article","isPartOf":{"@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/"},"author":{"name":"Yash Bhola","@id":"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c"},"headline":"Income Tax HC Judgement Dated 30\/05\/2025 – Valuation of unquoted equity shares by DCF method permissible under rule 11UA(2)","datePublished":"2025-06-24T11:46:42+00:00","dateModified":"2025-06-24T11:46:43+00:00","mainEntityOfPage":{"@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/"},"wordCount":70,"commentCount":0,"publisher":{"@id":"https:\/\/bhatiabhola.com\/#organization"},"articleSection":["Income Tax","Judiciary"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/","url":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/","name":"Income Tax HC Judgement Dated 30\/05\/2025 - Valuation of unquoted equity shares by DCF method permissible under rule 11UA(2) - Bhatia Bhola & Associates LLP","isPartOf":{"@id":"https:\/\/bhatiabhola.com\/#website"},"datePublished":"2025-06-24T11:46:42+00:00","dateModified":"2025-06-24T11:46:43+00:00","breadcrumb":{"@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/bhatiabhola.com\/index.php\/blog\/2025\/06\/24\/income-tax-hc-judgement-dated-30-05-2025-valuation-of-unquoted-equity-shares-by-dcf-method-permissible-under-rule-11ua2\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/bhatiabhola.com\/"},{"@type":"ListItem","position":2,"name":"Income Tax HC Judgement Dated 30\/05\/2025 – Valuation of unquoted equity shares by DCF method permissible under rule 11UA(2)"}]},{"@type":"WebSite","@id":"https:\/\/bhatiabhola.com\/#website","url":"https:\/\/bhatiabhola.com\/","name":"Bhatia Bhola & Associates LLP","description":"","publisher":{"@id":"https:\/\/bhatiabhola.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/bhatiabhola.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/bhatiabhola.com\/#organization","name":"Bhatia Bhola & Associates LLP","url":"https:\/\/bhatiabhola.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/bhatiabhola.com\/#\/schema\/logo\/image\/","url":"https:\/\/bhatiabhola.com\/wp-content\/uploads\/2025\/04\/cropped-cropped-Screenshot-2025-04-29-at-7.15.27\u202fAM.png","contentUrl":"https:\/\/bhatiabhola.com\/wp-content\/uploads\/2025\/04\/cropped-cropped-Screenshot-2025-04-29-at-7.15.27\u202fAM.png","width":1709,"height":376,"caption":"Bhatia Bhola & Associates LLP"},"image":{"@id":"https:\/\/bhatiabhola.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/bhatiabhola.com\/#\/schema\/person\/5c941d1613f06d46d7c656c473e8249c","name":"Yash Bhola","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/bhatiabhola.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/aead41d7b2f010c8a719d781a6360aab0ad14fcb72ed48e049d2bbe80a30a6f8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/aead41d7b2f010c8a719d781a6360aab0ad14fcb72ed48e049d2bbe80a30a6f8?s=96&d=mm&r=g","caption":"Yash Bhola"},"url":"https:\/\/bhatiabhola.com\/index.php\/blog\/author\/bba_ypbhola\/"}]}},"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/posts\/1493","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/comments?post=1493"}],"version-history":[{"count":1,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/posts\/1493\/revisions"}],"predecessor-version":[{"id":1494,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/posts\/1493\/revisions\/1494"}],"wp:attachment":[{"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/media?parent=1493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/categories?post=1493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bhatiabhola.com\/index.php\/wp-json\/wp\/v2\/tags?post=1493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}