https://www.taxtmi.com/caselaws?id=57970 For estate duty valuation of shares in a private company, the statutory preference is the break-up method, because Section 37 of the Estate Duty Act directs valuation by reference to the company's total assets where that value can be ascertained. Rule 1D of the Wealth-tax Rules reflects that approach and may be applied where the Act does not provide detailed computational rules. The yield method may be relevant in other valuation settings, but it cannot displace an express statutory mandate to value shares by reference to assets when asset value is ascertainable. en-us Fri, 06 Mar 1987 00:00:00 +0530 Wed, 15 Dec 2010 16:32:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57970 For estate duty valuation of shares in a private company, the statutory preference is the break-up method, because Section 37 of the Estate Duty Act directs valuation by reference to the company's total assets where that value can be ascertained. Rule 1D of the Wealth-tax Rules reflects that approach and may be applied where the Act does not provide detailed computational rules. The yield method may be relevant in other valuation settings, but it cannot displace an express statutory mandate to value shares by reference to assets when asset value is ascertainable. Case-Laws Income Tax Fri, 06 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57970