https://www.taxtmi.com/caselaws?id=18214 The High Court of Madhya Pradesh ruled in favor of the Department in a case concerning the valuation of shares under the Wealth-tax Act, 1957. The court held that rule 1D of the Wealth-tax Rules is mandatory for valuing unquoted equity shares and must be followed in each case. Therefore, the Tribunal's decision to set aside the Commissioner's order and reinstate that of the Wealth-tax Officer was deemed valid. The outcome favored the Department, with costs fixed at Rs. 750 for each side, and the order was directed to be transmitted to the Tribunal for further action. en-us Fri, 16 Feb 1996 00:00:00 +0530 Tue, 29 Sep 2009 15:20:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18214 The High Court of Madhya Pradesh ruled in favor of the Department in a case concerning the valuation of shares under the Wealth-tax Act, 1957. The court held that rule 1D of the Wealth-tax Rules is mandatory for valuing unquoted equity shares and must be followed in each case. Therefore, the Tribunal's decision to set aside the Commissioner's order and reinstate that of the Wealth-tax Officer was deemed valid. The outcome favored the Department, with costs fixed at Rs. 750 for each side, and the order was directed to be transmitted to the Tribunal for further action. Case-Laws Wealth-tax Fri, 16 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18214