https://www.taxtmi.com/caselaws?id=36189 Advance tax actually paid by a company cannot be brought back into the tax payable figure under Explanation II, clause (ii)(e), to reduce provision for taxation when valuing unquoted equity shares under Rule 1D of the Wealth-tax Rules, 1957. Clause (i)(a) separately excludes advance tax paid from the assets side, while clause (ii)(e) applies only to provision for taxation on the liabilities side and permits exclusion only of excess provision over tax payable with reference to book profits. The two adjustments operate in different fields and cannot be mixed or double-counted in share valuation. en-us Fri, 26 Sep 1980 00:00:00 +0530 Sat, 20 Mar 2010 10:15:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36189 Advance tax actually paid by a company cannot be brought back into the tax payable figure under Explanation II, clause (ii)(e), to reduce provision for taxation when valuing unquoted equity shares under Rule 1D of the Wealth-tax Rules, 1957. Clause (i)(a) separately excludes advance tax paid from the assets side, while clause (ii)(e) applies only to provision for taxation on the liabilities side and permits exclusion only of excess provision over tax payable with reference to book profits. The two adjustments operate in different fields and cannot be mixed or double-counted in share valuation. Case-Laws Wealth-tax Fri, 26 Sep 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36189