https://www.taxtmi.com/caselaws?id=282908 Rule 1D of the Wealth-tax Rules, 1957 requires unquoted equity shares to be valued by the prescribed break-up method where it applies, and not by the yield method. The Gujarat High Court stated that the Tribunal's direction to adopt the yield method was inconsistent with the governing valuation rule. The reference was therefore answered against the assessee and in favour of the revenue on the valuation method for gifted unquoted equity shares. en-us Mon, 24 Jun 2002 00:00:00 +0530 Fri, 30 Aug 2019 17:02:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282908 Rule 1D of the Wealth-tax Rules, 1957 requires unquoted equity shares to be valued by the prescribed break-up method where it applies, and not by the yield method. The Gujarat High Court stated that the Tribunal's direction to adopt the yield method was inconsistent with the governing valuation rule. The reference was therefore answered against the assessee and in favour of the revenue on the valuation method for gifted unquoted equity shares. Case-Laws Income Tax Mon, 24 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282908