https://www.taxtmi.com/caselaws?id=10360 The High Court ruled in favor of the assessee in a dispute over the valuation of shares of a private limited company for Estate Duty purposes. The court held that rule 1D of the Wealth-tax Rules should be used for valuation under the Estate Duty Act to ensure consistency in valuation methods across different tax laws. By applying the breakup method in rule 1D for valuing unquoted equity shares, the court upheld the Tribunal's decision, favoring the assessee and rejecting the Revenue's higher valuation based on land, assets, and goodwill. en-us Wed, 28 Jan 2004 00:00:00 +0530 Tue, 14 Jul 2009 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10360 The High Court ruled in favor of the assessee in a dispute over the valuation of shares of a private limited company for Estate Duty purposes. The court held that rule 1D of the Wealth-tax Rules should be used for valuation under the Estate Duty Act to ensure consistency in valuation methods across different tax laws. By applying the breakup method in rule 1D for valuing unquoted equity shares, the court upheld the Tribunal's decision, favoring the assessee and rejecting the Revenue's higher valuation based on land, assets, and goodwill. Case-Laws Income Tax Wed, 28 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10360