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<h1>Court rules against reducing taxation provision for valuing unquoted equity shares, upholds Department's stance</h1> The High Court of Madras held that the provision for taxation should not be reduced by advance tax paid when valuing unquoted equity shares for ... Valuation Of Assets The High Court of Madras ruled that provision for taxation should not be reduced by the advance tax paid when valuing unquoted equity shares for determining break-up value. This decision was based on a similar Supreme Court case where it was held that no deductions for taxes or other amounts should be made in such valuations. The Court answered the referred question in the negative, favoring the Department.
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