https://www.taxtmi.com/caselaws?id=7081 The High Court upheld the constitutionality of the wealth tax assessment on a Hindu undivided family, ruling against the assessee. Regarding the valuation of closing stock of shares, the court sided with the Wealth-tax Officer's market value assessment over the assessee's cost valuation, emphasizing the officer's discretion in choosing the valuation method. The court awarded costs to the Commissioner of Wealth-tax, directing the assessee to pay Rs. 400. en-us Wed, 12 Jul 1967 00:00:00 +0530 Sun, 08 Feb 2009 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7081 The High Court upheld the constitutionality of the wealth tax assessment on a Hindu undivided family, ruling against the assessee. Regarding the valuation of closing stock of shares, the court sided with the Wealth-tax Officer's market value assessment over the assessee's cost valuation, emphasizing the officer's discretion in choosing the valuation method. The court awarded costs to the Commissioner of Wealth-tax, directing the assessee to pay Rs. 400. Case-Laws Wealth-tax Wed, 12 Jul 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7081