https://www.taxtmi.com/caselaws?id=27636 For estate duty valuation of shares in a going concern, the break-up method was rejected because an old balance-sheet did not reflect later appreciation in the company's land, buildings and machinery; the post-death sale price was treated as a reliable indicator of fair market value, so valuation at Rs. 1,500 per share was upheld. A claimed deduction of Rs. 2,55,000 was disallowed because the earlier marriage settlement had been revoked, the revocation deed created no fresh enforceable debt, and no subsisting liability existed on the date of death. The estate duty assessment was sustained. en-us Tue, 14 Jun 1983 00:00:00 +0530 Mon, 15 Feb 2010 11:31:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27636 For estate duty valuation of shares in a going concern, the break-up method was rejected because an old balance-sheet did not reflect later appreciation in the company's land, buildings and machinery; the post-death sale price was treated as a reliable indicator of fair market value, so valuation at Rs. 1,500 per share was upheld. A claimed deduction of Rs. 2,55,000 was disallowed because the earlier marriage settlement had been revoked, the revocation deed created no fresh enforceable debt, and no subsisting liability existed on the date of death. The estate duty assessment was sustained. Case-Laws Income Tax Tue, 14 Jun 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27636