https://www.taxtmi.com/caselaws?id=14575 Rule 1D of the Wealth-tax Rules, 1957 was treated as the binding and exclusive method for valuing unquoted equity shares of a company other than an investment company or managing agency company. The authorities under the Act were required to follow that prescribed method and could not adopt any alternative valuation approach. On that basis, the question was answered in favour of the Revenue and against the assessee, and the matter was remitted to the Tribunal to determine the share value in accordance with rule 1D. en-us Mon, 09 Nov 1998 00:00:00 +0530 Fri, 17 Jul 2009 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14575 Rule 1D of the Wealth-tax Rules, 1957 was treated as the binding and exclusive method for valuing unquoted equity shares of a company other than an investment company or managing agency company. The authorities under the Act were required to follow that prescribed method and could not adopt any alternative valuation approach. On that basis, the question was answered in favour of the Revenue and against the assessee, and the matter was remitted to the Tribunal to determine the share value in accordance with rule 1D. Case-Laws Wealth-tax Mon, 09 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14575