https://www.taxtmi.com/caselaws?id=7793 The court affirmed the Income-tax Tribunal's decision to use the income-tax written down value of depreciable assets for determining the break-up value of shares, emphasizing the practical difficulties in correlating physical asset depreciation with share valuation. The court highlighted the importance of market value over written down value under the Wealth-tax Act. The court ruled in favor of the assessee on the first issue but with significant qualifications, and in favor of the revenue on the second issue, ordering each party to bear its own costs. en-us Tue, 15 Jul 1969 00:00:00 +0530 Thu, 19 Mar 2009 11:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7793 The court affirmed the Income-tax Tribunal's decision to use the income-tax written down value of depreciable assets for determining the break-up value of shares, emphasizing the practical difficulties in correlating physical asset depreciation with share valuation. The court highlighted the importance of market value over written down value under the Wealth-tax Act. The court ruled in favor of the assessee on the first issue but with significant qualifications, and in favor of the revenue on the second issue, ordering each party to bear its own costs. Case-Laws Wealth-tax Tue, 15 Jul 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7793