https://www.taxtmi.com/caselaws?id=55288 The Tribunal ruled in favor of the assessees, overturning the Commissioner's orders regarding the valuation of unquoted shares for wealth tax assessment years 1976-77 and 1977-78. The Tribunal emphasized the correct application of rule 1D of the Wealth-tax Rules, stating that the Commissioner's valuation method did not adhere to the provisions of the rule. The Tribunal upheld the assessees' valuation, highlighting the importance of following prescribed valuation methods and ultimately canceling the Commissioner's orders. en-us Tue, 11 Aug 1981 00:00:00 +0530 Thu, 25 Nov 2010 11:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55288 The Tribunal ruled in favor of the assessees, overturning the Commissioner's orders regarding the valuation of unquoted shares for wealth tax assessment years 1976-77 and 1977-78. The Tribunal emphasized the correct application of rule 1D of the Wealth-tax Rules, stating that the Commissioner's valuation method did not adhere to the provisions of the rule. The Tribunal upheld the assessees' valuation, highlighting the importance of following prescribed valuation methods and ultimately canceling the Commissioner's orders. Case-Laws Wealth-tax Tue, 11 Aug 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55288