https://www.taxtmi.com/caselaws?id=20031 The court ruled in favor of the Revenue regarding the valuation of unquoted shares under Wealth-tax Rules, 1957, holding that the market value should be determined in accordance with rule 1D. However, on the issue of deductibility of provision for gratuity in computing the market value of unquoted shares, the court remanded the matter for further consideration. The judgment emphasized the importance of distinguishing between provisions for gratuity and actual contributions to a gratuity fund, highlighting the need for adherence to tax laws and precedents in such valuation matters. en-us Fri, 20 Aug 1993 00:00:00 +0530 Wed, 11 Nov 2009 12:07:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20031 The court ruled in favor of the Revenue regarding the valuation of unquoted shares under Wealth-tax Rules, 1957, holding that the market value should be determined in accordance with rule 1D. However, on the issue of deductibility of provision for gratuity in computing the market value of unquoted shares, the court remanded the matter for further consideration. The judgment emphasized the importance of distinguishing between provisions for gratuity and actual contributions to a gratuity fund, highlighting the need for adherence to tax laws and precedents in such valuation matters. Case-Laws Wealth-tax Fri, 20 Aug 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20031