https://www.taxtmi.com/caselaws?id=58463 The Tribunal directed the WTO to recompute the asset value of shares based on correct facts and law, noting inconsistencies in the treatment of deposits and valuation methods. It emphasized the need for proper valuation based on the actual nature of the deposits, criticized the inconsistent approach in assessing the nature of deposits, and found Rule 1D inapplicable to the valuation of shares in an investment company. The Tribunal clarified its authority to enhance the net wealth of the assessee and stressed the importance of providing an opportunity for the assessee to present their case before any enhancement is made. en-us Sat, 24 Jul 1982 00:00:00 +0530 Mon, 20 Dec 2010 11:32:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58463 The Tribunal directed the WTO to recompute the asset value of shares based on correct facts and law, noting inconsistencies in the treatment of deposits and valuation methods. It emphasized the need for proper valuation based on the actual nature of the deposits, criticized the inconsistent approach in assessing the nature of deposits, and found Rule 1D inapplicable to the valuation of shares in an investment company. The Tribunal clarified its authority to enhance the net wealth of the assessee and stressed the importance of providing an opportunity for the assessee to present their case before any enhancement is made. Case-Laws Wealth-tax Sat, 24 Jul 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58463