https://www.taxtmi.com/caselaws?id=18634 For wealth-tax valuation of shares, a provision for taxation in the balance-sheet cannot be treated as a liability to the extent it already includes advance tax paid; only the unpaid balance remaining on the valuation date may be deducted as a liability. Advance tax already paid cannot be counted twice in the liabilities column for share valuation, so the issue was answered against the assessee and in favour of the Revenue. en-us Fri, 19 Jan 1996 00:00:00 +0530 Sat, 31 Oct 2009 10:31:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18634 For wealth-tax valuation of shares, a provision for taxation in the balance-sheet cannot be treated as a liability to the extent it already includes advance tax paid; only the unpaid balance remaining on the valuation date may be deducted as a liability. Advance tax already paid cannot be counted twice in the liabilities column for share valuation, so the issue was answered against the assessee and in favour of the Revenue. Case-Laws Wealth-tax Fri, 19 Jan 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18634