https://www.taxtmi.com/caselaws?id=18051 The court ruled against the assessee and in favor of the Revenue, holding that liabilities for income-tax provision, gratuity provision, and proposed dividend cannot be deducted from the value of assets under Rule 1D. Additionally, the court held that tax deducted at source (TDS) should not be deducted from the value of assets in computing the value of unquoted shares. The decision was final and binding for the assessment year 1979-80, with the parties directed to bear their own costs. en-us Fri, 26 Aug 1994 00:00:00 +0530 Sat, 26 Sep 2009 14:04:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18051 The court ruled against the assessee and in favor of the Revenue, holding that liabilities for income-tax provision, gratuity provision, and proposed dividend cannot be deducted from the value of assets under Rule 1D. Additionally, the court held that tax deducted at source (TDS) should not be deducted from the value of assets in computing the value of unquoted shares. The decision was final and binding for the assessment year 1979-80, with the parties directed to bear their own costs. Case-Laws Wealth-tax Fri, 26 Aug 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18051