https://www.taxtmi.com/circulars?id=4520 Unquoted equity shares of investment, holding and managing agency companies are valued by reference to either the profit earning capacity (capitalisation of adjusted maintainable profits) or the break up value where profits are uncertain or liquidation is imminent. Maintainable profits are averaged over five adjusted years after excluding non-recurring items, adding back debited allowances, adjusting revenue items, deducting tax and excluding preference dividends. Managing agency valuation separates present worth of commission for unexpired term and capitalised non commission income. Holding companies attract a 10% premium and wholly owned subsidiaries must be consolidated for valuation. en-us Sat, 15 Sep 1973 00:00:00 +0530 Wed, 30 Jul 2008 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4520 Unquoted equity shares of investment, holding and managing agency companies are valued by reference to either the profit earning capacity (capitalisation of adjusted maintainable profits) or the break up value where profits are uncertain or liquidation is imminent. Maintainable profits are averaged over five adjusted years after excluding non-recurring items, adding back debited allowances, adjusting revenue items, deducting tax and excluding preference dividends. Managing agency valuation separates present worth of commission for unexpired term and capitalised non commission income. Holding companies attract a 10% premium and wholly owned subsidiaries must be consolidated for valuation. Circulars Income Tax Sat, 15 Sep 1973 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4520