https://www.taxtmi.com/caselaws?id=9146 For estate duty valuation, unquoted shares are to be assessed at their open-market value using recognised valuation methods where no special statutory rule applies. The break-up method is a recognised approach, and wealth-tax valuation based on that method may be used as relevant evidence. On that basis, goodwill was not to be separately added because the break-up approach did not contemplate it, and expected dividend was also not includible absent material showing it was properly part of the asset value. The Tribunal's reliance on the wealth-tax valuation was upheld, as there was no material indicating any increase in value after the balance-sheet date. en-us Thu, 05 Oct 1972 00:00:00 +0530 Fri, 19 Jun 2009 18:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9146 For estate duty valuation, unquoted shares are to be assessed at their open-market value using recognised valuation methods where no special statutory rule applies. The break-up method is a recognised approach, and wealth-tax valuation based on that method may be used as relevant evidence. On that basis, goodwill was not to be separately added because the break-up approach did not contemplate it, and expected dividend was also not includible absent material showing it was properly part of the asset value. The Tribunal's reliance on the wealth-tax valuation was upheld, as there was no material indicating any increase in value after the balance-sheet date. Case-Laws Income Tax Thu, 05 Oct 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9146