https://www.taxtmi.com/caselaws?id=22591 Rule 1D under the Wealth-tax Rules, 1957 is treated as the governing method for valuing shares of a private company where binding precedent has already settled the valuation principle. The commentary explains that the earlier decisions in Smt. Kusumben D. Mahadevia and CWT v. Pratap Bhogilal controlled the reference, so the approved valuer's valuation under section 24(6) was accepted as the proper basis. It also notes that the Commissioner's objection on reducing liabilities by advance tax was covered by the same precedent, and the challenge based on excessive delegation did not require separate adjudication. en-us Thu, 07 Jun 1990 00:00:00 +0530 Fri, 11 Dec 2009 13:07:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22591 Rule 1D under the Wealth-tax Rules, 1957 is treated as the governing method for valuing shares of a private company where binding precedent has already settled the valuation principle. The commentary explains that the earlier decisions in Smt. Kusumben D. Mahadevia and CWT v. Pratap Bhogilal controlled the reference, so the approved valuer's valuation under section 24(6) was accepted as the proper basis. It also notes that the Commissioner's objection on reducing liabilities by advance tax was covered by the same precedent, and the challenge based on excessive delegation did not require separate adjudication. Case-Laws Wealth-tax Thu, 07 Jun 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22591