https://www.taxtmi.com/caselaws?id=58379 Under rule 1D, the value of shares is computed by taking into account all assets shown in the company's balance sheet except where a specific exclusion applies. Goodwill, being an asset, does not fall outside the computation merely because it is intangible, and the explanation excluding amounts that do not represent asset value does not apply to goodwill. The contrary view that intangible assets are automatically deductible was rejected, and the departmental valuation including goodwill was restored in favour of the Revenue. en-us Tue, 25 Nov 1986 00:00:00 +0530 Sat, 18 Dec 2010 17:07:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58379 Under rule 1D, the value of shares is computed by taking into account all assets shown in the company's balance sheet except where a specific exclusion applies. Goodwill, being an asset, does not fall outside the computation merely because it is intangible, and the explanation excluding amounts that do not represent asset value does not apply to goodwill. The contrary view that intangible assets are automatically deductible was rejected, and the departmental valuation including goodwill was restored in favour of the Revenue. Case-Laws Wealth-tax Tue, 25 Nov 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58379