https://www.taxtmi.com/caselaws?id=29076 The court dismissed the application under s. 27(3) of the Wealth Tax Act, 1957, seeking a reference on the valuation of shares. It held that the application of the balance-sheet of December 31, 1974, was not applicable as the shares were issued post that date, emphasizing the need to evaluate shares based on existing financial data. The court affirmed that the issue of balance-sheet dates was a question of fact, leading to the dismissal of the application and highlighting the importance of aligning valuation methods with relevant financial information. en-us Fri, 26 Mar 1982 00:00:00 +0530 Wed, 10 Mar 2010 16:11:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29076 The court dismissed the application under s. 27(3) of the Wealth Tax Act, 1957, seeking a reference on the valuation of shares. It held that the application of the balance-sheet of December 31, 1974, was not applicable as the shares were issued post that date, emphasizing the need to evaluate shares based on existing financial data. The court affirmed that the issue of balance-sheet dates was a question of fact, leading to the dismissal of the application and highlighting the importance of aligning valuation methods with relevant financial information. Case-Laws Wealth-tax Fri, 26 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29076