https://www.taxtmi.com/caselaws?id=37718 The court ruled against the assessee in a Wealth-tax case concerning the valuation of unquoted shares. The court emphasized the mandatory application of rule 1D for valuing such shares, rejecting arguments for reconsideration based on pre-rule amendments. The decision highlighted the binding nature of rule 1D on all assessing authorities, including higher appellate bodies. The court awarded costs to the Commissioner of Wealth-tax, reinforcing the importance of consistent application of valuation rules in assessments. en-us Mon, 21 Aug 1978 00:00:00 +0530 Wed, 31 Mar 2010 16:03:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37718 The court ruled against the assessee in a Wealth-tax case concerning the valuation of unquoted shares. The court emphasized the mandatory application of rule 1D for valuing such shares, rejecting arguments for reconsideration based on pre-rule amendments. The decision highlighted the binding nature of rule 1D on all assessing authorities, including higher appellate bodies. The court awarded costs to the Commissioner of Wealth-tax, reinforcing the importance of consistent application of valuation rules in assessments. Case-Laws Wealth-tax Mon, 21 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37718