https://www.taxtmi.com/caselaws?id=37832 Unquoted shares in a continuing business are ordinarily valued on the yield or profit-earning capacity method, while break-up value is reserved for exceptional cases such as winding up. On that basis, maintainable profits and past dividend history were treated as a permissible valuation approach, and no capital gain was found to arise on the sale. The commentary also states that "plant" is to be construed broadly for development rebate purposes and can include business apparatus such as coal tubs, pipes and ropes, provided the statutory reserve requirement is met. The assessee's position was accepted on both issues. en-us Tue, 21 Mar 1978 00:00:00 +0530 Thu, 01 Apr 2010 12:50:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37832 Unquoted shares in a continuing business are ordinarily valued on the yield or profit-earning capacity method, while break-up value is reserved for exceptional cases such as winding up. On that basis, maintainable profits and past dividend history were treated as a permissible valuation approach, and no capital gain was found to arise on the sale. The commentary also states that "plant" is to be construed broadly for development rebate purposes and can include business apparatus such as coal tubs, pipes and ropes, provided the statutory reserve requirement is met. The assessee's position was accepted on both issues. Case-Laws Income Tax Tue, 21 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37832