https://www.taxtmi.com/caselaws?id=26777 The Court held that the value of shares should be determined by applying the break-up value method, considering both fully paid-up and partly paid-up shares. The Tribunal's approach of treating all shares equally for valuation purposes was deemed incorrect. Additionally, the Court upheld the Income-tax Officer's decision to deduct 15% from the value of shares due to the restricted marketability of shares in a private limited company, contrary to the Tribunal's ruling. Both decisions favored the Revenue, directing the assessee to pay costs and denying leave to appeal to the Supreme Court. en-us Tue, 05 Mar 1985 00:00:00 +0530 Mon, 08 Feb 2010 13:48:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26777 The Court held that the value of shares should be determined by applying the break-up value method, considering both fully paid-up and partly paid-up shares. The Tribunal's approach of treating all shares equally for valuation purposes was deemed incorrect. Additionally, the Court upheld the Income-tax Officer's decision to deduct 15% from the value of shares due to the restricted marketability of shares in a private limited company, contrary to the Tribunal's ruling. Both decisions favored the Revenue, directing the assessee to pay costs and denying leave to appeal to the Supreme Court. Case-Laws Income Tax Tue, 05 Mar 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26777