https://www.taxtmi.com/caselaws?id=21557 Where the Estate Duty Act, 1953 contains no specific rule for valuing unquoted shares, the principal value is to be estimated at the price they would fetch in the open market at the date of death. The break-up method is a recognised valuation approach, and rule 1D of the Wealth-tax Rules, 1957 was accepted as a statutorily recognised basis for applying that method to unquoted shares for estate duty purposes. The valuation made on that basis was upheld as justified on the facts. en-us Tue, 16 Aug 1988 00:00:00 +0530 Wed, 25 Nov 2009 13:00:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21557 Where the Estate Duty Act, 1953 contains no specific rule for valuing unquoted shares, the principal value is to be estimated at the price they would fetch in the open market at the date of death. The break-up method is a recognised valuation approach, and rule 1D of the Wealth-tax Rules, 1957 was accepted as a statutorily recognised basis for applying that method to unquoted shares for estate duty purposes. The valuation made on that basis was upheld as justified on the facts. Case-Laws Income Tax Tue, 16 Aug 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21557