https://www.taxtmi.com/caselaws?id=8993 The High Court ruled that the Tribunal must consider depreciation on the value determined by the Wealth-tax Officer due to restrictions in the articles of association. The court rejected valuing the shares solely at face value, directing the assessee to pay costs. The break-up value method was deemed appropriate for valuation, and depreciation was allowed for restrictions on share transfer. The court emphasized that the restrictions did not entirely impact valuation, as shares could be sold at market value if the pre-emption right was not exercised. en-us Fri, 04 May 1973 00:00:00 +0530 Thu, 18 Jun 2009 13:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8993 The High Court ruled that the Tribunal must consider depreciation on the value determined by the Wealth-tax Officer due to restrictions in the articles of association. The court rejected valuing the shares solely at face value, directing the assessee to pay costs. The break-up value method was deemed appropriate for valuation, and depreciation was allowed for restrictions on share transfer. The court emphasized that the restrictions did not entirely impact valuation, as shares could be sold at market value if the pre-emption right was not exercised. Case-Laws Wealth-tax Fri, 04 May 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8993