https://www.taxtmi.com/caselaws?id=64548 The Appellate Tribunal ruled in favor of the assessee, allowing the appeal and directing a revaluation of unquoted shares for wealth-tax assessment. The Tribunal held that the provisions of rule 1D are not mandatory but directory, emphasizing the use of the yield method for valuation in cases where the valuation date of the company and the assessee differ. The Tribunal clarified that the Tribunal has discretion in assessing the applicability of rule 1D and determining the valuation method based on individual case facts, aligning with the Delhi High Court's interpretation. en-us Fri, 06 Dec 1985 00:00:00 +0530 Tue, 08 Feb 2011 15:13:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64548 The Appellate Tribunal ruled in favor of the assessee, allowing the appeal and directing a revaluation of unquoted shares for wealth-tax assessment. The Tribunal held that the provisions of rule 1D are not mandatory but directory, emphasizing the use of the yield method for valuation in cases where the valuation date of the company and the assessee differ. The Tribunal clarified that the Tribunal has discretion in assessing the applicability of rule 1D and determining the valuation method based on individual case facts, aligning with the Delhi High Court's interpretation. Case-Laws Wealth-tax Fri, 06 Dec 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64548