https://www.taxtmi.com/caselaws?id=59125 The Tribunal dismissed both the assessee's and the department's appeals. It held that the actuarial valuation of the gratuity liability does not qualify as a liability in praesenti and thus cannot be deducted in computing net wealth. Additionally, the Tribunal upheld the yield method for valuing shares of Himalaya Drug Co. (P.) Ltd., rejecting the higher valuation applied by the Wealth Tax Officer. en-us Mon, 29 Sep 1986 00:00:00 +0530 Sat, 25 Dec 2010 11:46:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59125 The Tribunal dismissed both the assessee's and the department's appeals. It held that the actuarial valuation of the gratuity liability does not qualify as a liability in praesenti and thus cannot be deducted in computing net wealth. Additionally, the Tribunal upheld the yield method for valuing shares of Himalaya Drug Co. (P.) Ltd., rejecting the higher valuation applied by the Wealth Tax Officer. Case-Laws Wealth-tax Mon, 29 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59125