Share valuation guidance requires assessing officers to conduct proper investigation when market quotations are inconsistent. Board recorded inconsistent Bombay Stock Exchange quotations for New City Mills on 29 March 1975 and an Exchange addendum correcting the official list; assessing officers are to be informed and to make a proper investigation when arriving at the valuation of the company's shares, verifying market quotations before determining tax-related valuations.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Share valuation guidance requires assessing officers to conduct proper investigation when market quotations are inconsistent.
Board recorded inconsistent Bombay Stock Exchange quotations for New City Mills on 29 March 1975 and an Exchange addendum correcting the official list; assessing officers are to be informed and to make a proper investigation when arriving at the valuation of the company's shares, verifying market quotations before determining tax-related valuations.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
