https://www.taxtmi.com/caselaws?id=63148 Where the valuation dates and the company's accounting year did not coincide, rule 1D of the Wealth-tax Rules, 1957 was not compulsory for valuing unquoted shares in a non-investment company. The valuation had to be made under the governing judicial principles laid down by the Delhi High Court, including the yield method where appropriate. The Tribunal held that the appellate authority should not have applied rule 1D in disregard of the binding High Court ruling, and it permitted consideration of the assessee's valuation report. The valuation orders were set aside and the matter was remitted for fresh determination in accordance with the High Court guidance. en-us Tue, 13 Jan 1987 00:00:00 +0530 Fri, 28 Jan 2011 10:51:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63148 Where the valuation dates and the company's accounting year did not coincide, rule 1D of the Wealth-tax Rules, 1957 was not compulsory for valuing unquoted shares in a non-investment company. The valuation had to be made under the governing judicial principles laid down by the Delhi High Court, including the yield method where appropriate. The Tribunal held that the appellate authority should not have applied rule 1D in disregard of the binding High Court ruling, and it permitted consideration of the assessee's valuation report. The valuation orders were set aside and the matter was remitted for fresh determination in accordance with the High Court guidance. Case-Laws Wealth-tax Tue, 13 Jan 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63148