https://www.taxtmi.com/caselaws?id=26379 Restricted marketability justified a further discount in valuing shares of a private controlled company under the break-up method, while accumulated dividend arrears on cumulative preference shares did not warrant upward revision because they were treated as liabilities in net asset valuation. Transfers of property to controlled companies fell within the estate duty charging provision where the transferor had absolute power of disposition and benefits accrued under the arrangement. Loans advanced by, and repayments made by, the controlled company were not treated as statutory benefits absent a right to receive them as part of the transfer arrangement. Once proceedings were timely commenced, limitation did not bar notices to connected persons, and estate duty payable was not deductible in computing the principal value of the estate. en-us Tue, 21 Jan 1986 00:00:00 +0530 Thu, 04 Feb 2010 15:37:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26379 Restricted marketability justified a further discount in valuing shares of a private controlled company under the break-up method, while accumulated dividend arrears on cumulative preference shares did not warrant upward revision because they were treated as liabilities in net asset valuation. Transfers of property to controlled companies fell within the estate duty charging provision where the transferor had absolute power of disposition and benefits accrued under the arrangement. Loans advanced by, and repayments made by, the controlled company were not treated as statutory benefits absent a right to receive them as part of the transfer arrangement. Once proceedings were timely commenced, limitation did not bar notices to connected persons, and estate duty payable was not deductible in computing the principal value of the estate. Case-Laws Income Tax Tue, 21 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26379