Market price reliability: expunged special-term stock transactions should not determine share valuation; assessing officers must investigate. Quoted trades in Testeels Ltd. on 29/3/75 were executed on special terms and have been treated as expunged by the Ahmedabad Stock Exchange; those quotations do not reflect the correct market price and should not be taken into account for share valuation. Assessing officers are directed to undertake proper investigation and to disregard the expunged special-term transactions when arriving at the valuation of the company's shares.
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Provisions expressly mentioned in the judgment/order text.
Market price reliability: expunged special-term stock transactions should not determine share valuation; assessing officers must investigate.
Quoted trades in Testeels Ltd. on 29/3/75 were executed on special terms and have been treated as expunged by the Ahmedabad Stock Exchange; those quotations do not reflect the correct market price and should not be taken into account for share valuation. Assessing officers are directed to undertake proper investigation and to disregard the expunged special-term transactions when arriving at the valuation of the company's shares.
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