https://www.taxtmi.com/caselaws?id=13376 The High Court ruled in favor of the assessee, stating that filing the accountant's certificate during the assessment proceedings was permissible under the Wealth-tax Act, 1957. The court held that attaching the certificate is a directory requirement, not mandatory, and serves as evidence for the claim under rule 9A. Therefore, the Tribunal's decision to allow the benefit of valuing shares on an average basis under rule 9A was deemed legal. The judgment emphasized the procedural nature of attaching the certificate and clarified that the timing of submission does not affect the entitlement to claim the market value of quoted shares on an average basis. en-us Thu, 15 Mar 2007 00:00:00 +0530 Thu, 28 May 2009 15:54:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13376 The High Court ruled in favor of the assessee, stating that filing the accountant's certificate during the assessment proceedings was permissible under the Wealth-tax Act, 1957. The court held that attaching the certificate is a directory requirement, not mandatory, and serves as evidence for the claim under rule 9A. Therefore, the Tribunal's decision to allow the benefit of valuing shares on an average basis under rule 9A was deemed legal. The judgment emphasized the procedural nature of attaching the certificate and clarified that the timing of submission does not affect the entitlement to claim the market value of quoted shares on an average basis. Case-Laws Income Tax Thu, 15 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13376