https://www.taxtmi.com/caselaws?id=40012 For unquoted shares of a private limited company that remains a going concern, the ordinary valuation basis is the profit-earning or yield method; the break-up method applies only in exceptional situations such as winding up or inability to estimate profits. Asset backing in an investment company may inform estimation of earning capacity, but it does not justify a blended yield and break-up approach, which was said to have no judicial or scientific sanction. A further contention based on rule 10(2) of the Gift-tax Rules, 1958 was not referable because it had neither been raised before nor decided by the Tribunal. en-us Wed, 05 Dec 1979 00:00:00 +0530 Fri, 24 Nov 2017 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40012 For unquoted shares of a private limited company that remains a going concern, the ordinary valuation basis is the profit-earning or yield method; the break-up method applies only in exceptional situations such as winding up or inability to estimate profits. Asset backing in an investment company may inform estimation of earning capacity, but it does not justify a blended yield and break-up approach, which was said to have no judicial or scientific sanction. A further contention based on rule 10(2) of the Gift-tax Rules, 1958 was not referable because it had neither been raised before nor decided by the Tribunal. Case-Laws Wealth-tax Wed, 05 Dec 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40012