https://www.taxtmi.com/caselaws?id=19802 The court held that Rule 1D of the Wealth-tax Rules, 1957 is mandatory for valuing unquoted shares and must be applied without exception. Tax liability on enhanced compensation not provided in the balance-sheet cannot be deducted. Enhanced compensation must be included in the net wealth of the company for valuing unquoted shares. The court ruled against the assessee in various wealth-tax references, affirming the Revenue's position on the issues. No costs were awarded. en-us Fri, 22 Jul 1994 00:00:00 +0530 Wed, 24 Oct 2018 16:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19802 The court held that Rule 1D of the Wealth-tax Rules, 1957 is mandatory for valuing unquoted shares and must be applied without exception. Tax liability on enhanced compensation not provided in the balance-sheet cannot be deducted. Enhanced compensation must be included in the net wealth of the company for valuing unquoted shares. The court ruled against the assessee in various wealth-tax references, affirming the Revenue's position on the issues. No costs were awarded. Case-Laws Wealth-tax Fri, 22 Jul 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19802