https://www.taxtmi.com/caselaws?id=35884 For wealth-tax valuation of unquoted shares under the break-up method, only liabilities that have accrued or crystallised by the valuation date are deductible. A provision for additional super-tax under section 104 was not deductible because the liability arose only on a prior determination order and had not crystallised before valuation. By contrast, an accrued bonus liability under an existing employee agreement remained deductible even though no separate provision appeared in the balance-sheet, because the omission in accounts did not affect the underlying obligation. en-us Wed, 12 Mar 1980 00:00:00 +0530 Wed, 17 Mar 2010 15:46:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35884 For wealth-tax valuation of unquoted shares under the break-up method, only liabilities that have accrued or crystallised by the valuation date are deductible. A provision for additional super-tax under section 104 was not deductible because the liability arose only on a prior determination order and had not crystallised before valuation. By contrast, an accrued bonus liability under an existing employee agreement remained deductible even though no separate provision appeared in the balance-sheet, because the omission in accounts did not affect the underlying obligation. Case-Laws Wealth-tax Wed, 12 Mar 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35884