https://www.taxtmi.com/caselaws?id=20721 For gift-tax valuation of shares in a running private company, the profit-earning method was applied instead of the break-up value method, and the Revenue's attempt to displace the governing Supreme Court approach was rejected. The gift date was taken as the date on which the assessee effected the transfer, not the later date when the transfer was entered in the company's books. Both points were decided in favour of the assessee, and the references were disposed of accordingly, with the remaining referred questions left unanswered. en-us Thu, 28 Jan 1993 00:00:00 +0530 Mon, 16 Nov 2009 17:31:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20721 For gift-tax valuation of shares in a running private company, the profit-earning method was applied instead of the break-up value method, and the Revenue's attempt to displace the governing Supreme Court approach was rejected. The gift date was taken as the date on which the assessee effected the transfer, not the later date when the transfer was entered in the company's books. Both points were decided in favour of the assessee, and the references were disposed of accordingly, with the remaining referred questions left unanswered. Case-Laws Income Tax Thu, 28 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20721