https://www.taxtmi.com/caselaws?id=11005 Unquoted shares sold to relatives below market value may attract deemed gift-tax consequences where the factual finding shows consideration far below market value and the claimed financial necessity is not accepted. For valuation of unquoted shares under the Gift-tax Act, absent a specific contrary rule, the yield method is ordinarily the proper basis for a going concern; the break-up method is not the normal governing approach, and reliance on Wealth-tax valuation rules was displaced by gift-tax valuation principles. en-us Thu, 25 Sep 2003 00:00:00 +0530 Wed, 29 Jul 2009 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11005 Unquoted shares sold to relatives below market value may attract deemed gift-tax consequences where the factual finding shows consideration far below market value and the claimed financial necessity is not accepted. For valuation of unquoted shares under the Gift-tax Act, absent a specific contrary rule, the yield method is ordinarily the proper basis for a going concern; the break-up method is not the normal governing approach, and reliance on Wealth-tax valuation rules was displaced by gift-tax valuation principles. Case-Laws Income Tax Thu, 25 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11005