https://www.taxtmi.com/caselaws?id=271555 The Tribunal upheld the valuation of partners' interest in firms based on the market value of shares as of 31/03/1981, rejecting arguments that valuation should align with the firms' accounting year-end of 30/06/1981. It emphasized the relevance of the valuation date of the assessees and the market value on that specific date, in accordance with Wealth Tax Act provisions. The decision favored the Wealth Tax Department, highlighting the significance of the valuation date for assessing partners' interests in firms. en-us Fri, 29 Jan 2016 00:00:00 +0530 Tue, 09 Feb 2016 10:21:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271555 The Tribunal upheld the valuation of partners' interest in firms based on the market value of shares as of 31/03/1981, rejecting arguments that valuation should align with the firms' accounting year-end of 30/06/1981. It emphasized the relevance of the valuation date of the assessees and the market value on that specific date, in accordance with Wealth Tax Act provisions. The decision favored the Wealth Tax Department, highlighting the significance of the valuation date for assessing partners' interests in firms. Case-Laws Wealth-tax Fri, 29 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271555