https://www.taxtmi.com/caselaws?id=16537 Valuation of unquoted equity shares under rule 1D of the Wealth-tax Rules, 1957 raised a substantial question of law because the later authoritative position required the break-up method to be applied mandatorily. The controversy over whether yield basis alone could be adopted, and whether rule 1D was merely directory, was therefore referable under section 27(3) of the Wealth-tax Act, 1957. The Tribunal's refusal to state the case was unsustainable, and it was directed to refer the common question of law for opinion. en-us Mon, 17 Nov 1997 00:00:00 +0530 Tue, 08 Sep 2009 13:35:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16537 Valuation of unquoted equity shares under rule 1D of the Wealth-tax Rules, 1957 raised a substantial question of law because the later authoritative position required the break-up method to be applied mandatorily. The controversy over whether yield basis alone could be adopted, and whether rule 1D was merely directory, was therefore referable under section 27(3) of the Wealth-tax Act, 1957. The Tribunal's refusal to state the case was unsustainable, and it was directed to refer the common question of law for opinion. Case-Laws Wealth-tax Mon, 17 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16537