https://www.taxtmi.com/caselaws?id=393438 The High Court ruled in favor of the applicants regarding the valuation of shares in a company and the inclusion of foreign advances in net wealth for wealth tax assessment. The Court emphasized the importance of consistency in applying rules and considered factors affecting the recovery of foreign advances. The Court concluded that the valuation of shares should be answered in favor of the applicants and that the inclusion of the foreign advances in net wealth was not justified. The issues related to the classification of gold ornaments and a claim for deduction were disposed of without expressing an opinion. en-us Thu, 05 Mar 2020 00:00:00 +0530 Mon, 16 Mar 2020 07:52:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=393438 The High Court ruled in favor of the applicants regarding the valuation of shares in a company and the inclusion of foreign advances in net wealth for wealth tax assessment. The Court emphasized the importance of consistency in applying rules and considered factors affecting the recovery of foreign advances. The Court concluded that the valuation of shares should be answered in favor of the applicants and that the inclusion of the foreign advances in net wealth was not justified. The issues related to the classification of gold ornaments and a claim for deduction were disposed of without expressing an opinion. Case-Laws Wealth-tax Thu, 05 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=393438