https://www.taxtmi.com/caselaws?id=10842 The High Court of ALLAHABAD ruled in favor of the Revenue and against the assessee on both issues regarding the deduction for accumulated dividend on cumulative preference shares and depreciation in the valuation of shares. The court held that the deduction for accumulated dividend and depreciation should not be allowed in determining the value of shares under rule 1D of the Wealth-tax Rules, based on the interpretation of relevant provisions and previous case law. en-us Mon, 09 Aug 2004 00:00:00 +0530 Sat, 25 Jul 2009 17:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10842 The High Court of ALLAHABAD ruled in favor of the Revenue and against the assessee on both issues regarding the deduction for accumulated dividend on cumulative preference shares and depreciation in the valuation of shares. The court held that the deduction for accumulated dividend and depreciation should not be allowed in determining the value of shares under rule 1D of the Wealth-tax Rules, based on the interpretation of relevant provisions and previous case law. Case-Laws Wealth-tax Mon, 09 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10842