https://www.taxtmi.com/caselaws?id=310369 The HC of Madras resolved a tax dispute concerning the valuation of shares under the Wealth Tax Act, 1957, specifically addressing shares subject to a lock-in period. The Court determined that for the Assessment Year 1992-93, Rule 11 of Schedule III was applicable for valuing such shares. The Court instructed the Assessing Authority to adopt this valuation method, emphasizing the need to account for the depreciated value due to limited marketability. The case was disposed of without costs, aligning with a precedent set by a co-ordinate Bench. en-us Fri, 12 Apr 2019 00:00:00 +0530 Fri, 20 Oct 2023 10:16:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310369 The HC of Madras resolved a tax dispute concerning the valuation of shares under the Wealth Tax Act, 1957, specifically addressing shares subject to a lock-in period. The Court determined that for the Assessment Year 1992-93, Rule 11 of Schedule III was applicable for valuing such shares. The Court instructed the Assessing Authority to adopt this valuation method, emphasizing the need to account for the depreciated value due to limited marketability. The case was disposed of without costs, aligning with a precedent set by a co-ordinate Bench. Case-Laws Income Tax Fri, 12 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310369