https://www.taxtmi.com/caselaws?id=10772 The court held that the assessee was entitled to substitute the fair market value as of January 1, 1964, for the shares in question, rejecting the Tribunal's decision. The court emphasized that the shares acquired post-amalgamation should be valued based on the original shares held in the amalgamating company. Additionally, the court directed the Tribunal to reconsider the valuation method, considering the Supreme Court's precedents. en-us Tue, 09 Aug 2005 00:00:00 +0530 Fri, 24 Jul 2009 19:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10772 The court held that the assessee was entitled to substitute the fair market value as of January 1, 1964, for the shares in question, rejecting the Tribunal's decision. The court emphasized that the shares acquired post-amalgamation should be valued based on the original shares held in the amalgamating company. Additionally, the court directed the Tribunal to reconsider the valuation method, considering the Supreme Court's precedents. Case-Laws Income Tax Tue, 09 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10772