https://www.taxtmi.com/caselaws?id=19322 The court ruled in favor of the Revenue and against the assessee. It held that gratuity liability should not be deducted in valuing unquoted equity shares. Additionally, partners are not entitled to deductions for properties owned by the firm, and section 7(4) of the Wealth-tax Act does not apply to properties belonging to the firm. The court's decision was based on interpretations of relevant sections and previous judgments, ultimately upholding the position against the assessee. en-us Fri, 05 Aug 1994 00:00:00 +0530 Thu, 05 Nov 2009 13:40:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19322 The court ruled in favor of the Revenue and against the assessee. It held that gratuity liability should not be deducted in valuing unquoted equity shares. Additionally, partners are not entitled to deductions for properties owned by the firm, and section 7(4) of the Wealth-tax Act does not apply to properties belonging to the firm. The court's decision was based on interpretations of relevant sections and previous judgments, ultimately upholding the position against the assessee. Case-Laws Wealth-tax Fri, 05 Aug 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19322