https://www.taxtmi.com/caselaws?id=184678 Unquoted equity shares were held to require valuation under Rule 1D of the Wealth-tax Rules because a statutory rule prescribing the mode of valuation binds the authorities under the Act. The Tribunal's view that Rule 1D applied only to companies in liquidation or winding up, and that going concerns could be valued on a yield basis, was rejected. The Court also upheld the Commissioner's revisional power under section 25(2) on the valuation issue, and the question was answered in favour of the Revenue and against the assessee. en-us Mon, 07 Oct 2002 00:00:00 +0530 Sat, 16 Jul 2016 11:35:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184678 Unquoted equity shares were held to require valuation under Rule 1D of the Wealth-tax Rules because a statutory rule prescribing the mode of valuation binds the authorities under the Act. The Tribunal's view that Rule 1D applied only to companies in liquidation or winding up, and that going concerns could be valued on a yield basis, was rejected. The Court also upheld the Commissioner's revisional power under section 25(2) on the valuation issue, and the question was answered in favour of the Revenue and against the assessee. Case-Laws Wealth-tax Mon, 07 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184678