https://www.taxtmi.com/caselaws?id=15013 The court ruled in favor of the assessee, allowing the deduction of the tax liability set aside in appeal for determining the break-up value of shares under rule 1D of the Wealth-tax Rules. The court emphasized that the liability existed until a final judicial determination indicated otherwise, affirming the Tribunal's decision. It was clarified that if a higher court were to reverse the decision, the deduction would no longer be permissible. The court found no error in the Tribunal's decision, ruling in favor of the assessee and awarding costs. en-us Thu, 18 Jun 1998 00:00:00 +0530 Mon, 27 Jul 2009 16:18:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15013 The court ruled in favor of the assessee, allowing the deduction of the tax liability set aside in appeal for determining the break-up value of shares under rule 1D of the Wealth-tax Rules. The court emphasized that the liability existed until a final judicial determination indicated otherwise, affirming the Tribunal's decision. It was clarified that if a higher court were to reverse the decision, the deduction would no longer be permissible. The court found no error in the Tribunal's decision, ruling in favor of the assessee and awarding costs. Case-Laws Wealth-tax Thu, 18 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15013