https://www.taxtmi.com/caselaws?id=22085 The court ruled against applying rule 1D for valuing shares in a company for wealth tax assessment, emphasizing that the break-up method should be used in exceptional circumstances or when the company is ripe for liquidation. Given the absence of such circumstances and the history of the case, the court concluded that the shares should be valued at face value as per the assessee's returns. Judge D. M. Patnaik concurred with the Chief Justice's decision, ultimately determining that the valuation method under rule 1D was not suitable in this instance. en-us Wed, 26 Jun 1991 00:00:00 +0530 Mon, 07 Dec 2009 10:21:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22085 The court ruled against applying rule 1D for valuing shares in a company for wealth tax assessment, emphasizing that the break-up method should be used in exceptional circumstances or when the company is ripe for liquidation. Given the absence of such circumstances and the history of the case, the court concluded that the shares should be valued at face value as per the assessee's returns. Judge D. M. Patnaik concurred with the Chief Justice's decision, ultimately determining that the valuation method under rule 1D was not suitable in this instance. Case-Laws Wealth-tax Wed, 26 Jun 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22085