https://www.taxtmi.com/caselaws?id=12018 The High Court found errors in the Appellate Tribunal's reliance on a non-existing rule to classify shares as unquoted and direct valuation on a yield basis for the assessment year 1985-86. The Court remitted the matter back for fresh consideration, emphasizing the need for an independent assessment and allowing for the presentation of further evidence. The valuation of shares in Pondicherry Papers Ltd. remains open for reassessment as the Court did not directly answer the questions of law referred, leaving the final decision to the Appellate Tribunal. en-us Wed, 27 Nov 2002 00:00:00 +0530 Sun, 14 Feb 2010 17:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12018 The High Court found errors in the Appellate Tribunal's reliance on a non-existing rule to classify shares as unquoted and direct valuation on a yield basis for the assessment year 1985-86. The Court remitted the matter back for fresh consideration, emphasizing the need for an independent assessment and allowing for the presentation of further evidence. The valuation of shares in Pondicherry Papers Ltd. remains open for reassessment as the Court did not directly answer the questions of law referred, leaving the final decision to the Appellate Tribunal. Case-Laws Wealth-tax Wed, 27 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12018