https://www.taxtmi.com/caselaws?id=16979 The High Court determined that the valuation of shares of Modipon Ltd. should be done in accordance with rule 1D of the Wealth-tax Rules, 1957. The court emphasized the mandatory nature of rule 1D despite the regular quoting of shares on the stock exchange. As the Tribunal's finding that the shares were unquoted was not challenged, the decision favored the assessee. Regarding amounts deposited under the Compulsory Deposit Scheme, the court held that such deposits should be included in the wealth of the assessee as assets for wealth computation, aligning with a Calcutta High Court judgment. en-us Tue, 17 Sep 1996 00:00:00 +0530 Mon, 14 Sep 2009 13:33:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16979 The High Court determined that the valuation of shares of Modipon Ltd. should be done in accordance with rule 1D of the Wealth-tax Rules, 1957. The court emphasized the mandatory nature of rule 1D despite the regular quoting of shares on the stock exchange. As the Tribunal's finding that the shares were unquoted was not challenged, the decision favored the assessee. Regarding amounts deposited under the Compulsory Deposit Scheme, the court held that such deposits should be included in the wealth of the assessee as assets for wealth computation, aligning with a Calcutta High Court judgment. Case-Laws Wealth-tax Tue, 17 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16979