https://www.taxtmi.com/caselaws?id=60360 The Tribunal held that Rule 1D of the Wealth-tax Rules, 1957, is directory and not mandatory. The Wealth-tax Officer (WTO) has discretion in determining the market value of unquoted shares, using the yield method as generally applicable and the break-up value method in exceptional circumstances. The Tribunal directed the WTO to redetermine the valuation of unquoted shares in accordance with the principles laid down by the Supreme Court in Mahadeo Jalan, setting aside the orders of the Commissioner of Wealth-tax (Appeals). en-us Fri, 19 Feb 1988 00:00:00 +0530 Tue, 04 Jan 2011 18:00:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60360 The Tribunal held that Rule 1D of the Wealth-tax Rules, 1957, is directory and not mandatory. The Wealth-tax Officer (WTO) has discretion in determining the market value of unquoted shares, using the yield method as generally applicable and the break-up value method in exceptional circumstances. The Tribunal directed the WTO to redetermine the valuation of unquoted shares in accordance with the principles laid down by the Supreme Court in Mahadeo Jalan, setting aside the orders of the Commissioner of Wealth-tax (Appeals). Case-Laws Wealth-tax Fri, 19 Feb 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60360