https://www.taxtmi.com/caselaws?id=58264 The Tribunal, by majority opinion, concluded that the gratuity liability of Rs. 5,64,528 should be deducted in computing the value of shares, emphasizing that the liability, if proven to exist, cannot be ignored in the valuation process. The decision highlighted that the liability's mention in the balance sheet is not a prerequisite for deduction under rule 1D, focusing instead on the liability's existence and ascertainability. The Tribunal determined that the gratuity liability was a proper liability deductible, affecting the market value of the shares, and allowed the appeal based on the liability being real and ascertainable. en-us Fri, 12 Oct 1984 00:00:00 +0530 Sat, 18 Dec 2010 12:02:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58264 The Tribunal, by majority opinion, concluded that the gratuity liability of Rs. 5,64,528 should be deducted in computing the value of shares, emphasizing that the liability, if proven to exist, cannot be ignored in the valuation process. The decision highlighted that the liability's mention in the balance sheet is not a prerequisite for deduction under rule 1D, focusing instead on the liability's existence and ascertainability. The Tribunal determined that the gratuity liability was a proper liability deductible, affecting the market value of the shares, and allowed the appeal based on the liability being real and ascertainable. Case-Laws Wealth-tax Fri, 12 Oct 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58264