https://www.taxtmi.com/caselaws?id=295929 The Tribunal partly allowed the appeal, directing the Assessing Officer to re-evaluate the fair market value of the shares according to the relevant provisions of the Income Tax Act and not as per Rule 1D of the Wealth Tax Rules, which was no longer applicable. The Tribunal remanded the matter back to the Assessing Officer for fresh consideration in light of their observations and provided a reasonable opportunity of being heard to the assessee. en-us Fri, 22 Oct 2010 00:00:00 +0530 Fri, 25 Jun 2021 11:43:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295929 The Tribunal partly allowed the appeal, directing the Assessing Officer to re-evaluate the fair market value of the shares according to the relevant provisions of the Income Tax Act and not as per Rule 1D of the Wealth Tax Rules, which was no longer applicable. The Tribunal remanded the matter back to the Assessing Officer for fresh consideration in light of their observations and provided a reasonable opportunity of being heard to the assessee. Case-Laws Income Tax Fri, 22 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295929