https://www.taxtmi.com/caselaws?id=58290 The Appellate Tribunal ITAT BOMBAY-B ruled on the valuation of unquoted equity shares of private limited companies for wealth tax purposes. It held that the shares should be valued by capitalizing the yield in the absence of Stock Exchange quotations, rejecting the retrospective application of Schedule III and amended section 7(1) for pending proceedings. The Tribunal confirmed the first appellate authority's decision, emphasizing the profit-earning method for valuing shares of unquoted companies and dismissing the appeals based on established precedents. en-us Tue, 21 Nov 1989 00:00:00 +0530 Sat, 18 Dec 2010 13:16:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58290 The Appellate Tribunal ITAT BOMBAY-B ruled on the valuation of unquoted equity shares of private limited companies for wealth tax purposes. It held that the shares should be valued by capitalizing the yield in the absence of Stock Exchange quotations, rejecting the retrospective application of Schedule III and amended section 7(1) for pending proceedings. The Tribunal confirmed the first appellate authority's decision, emphasizing the profit-earning method for valuing shares of unquoted companies and dismissing the appeals based on established precedents. Case-Laws Wealth-tax Tue, 21 Nov 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58290