https://www.taxtmi.com/caselaws?id=22080 The court held that rule 1D of the Wealth-tax Rules is not mandatory but directory. The Wealth-tax Officer is not obligated to apply it in all cases of valuing unquoted equity shares in a private limited company. The court answered the questions as follows: Question 1 against the assessee, Questions 2 and 3 in favor of the Revenue, and Question 4 did not require a specific answer. en-us Mon, 03 Jun 1991 00:00:00 +0530 Sat, 05 Dec 2009 18:40:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22080 The court held that rule 1D of the Wealth-tax Rules is not mandatory but directory. The Wealth-tax Officer is not obligated to apply it in all cases of valuing unquoted equity shares in a private limited company. The court answered the questions as follows: Question 1 against the assessee, Questions 2 and 3 in favor of the Revenue, and Question 4 did not require a specific answer. Case-Laws Wealth-tax Mon, 03 Jun 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22080