https://www.taxtmi.com/caselaws?id=60860 Unquoted equity shares transferred or gifted were required to be valued for gift-tax purposes on the yield method because binding Supreme Court decisions governed the valuation of such shares, and the earlier tribunal approach could not prevail over law declared under Article 141. Gifts made subject to a limited revocation option were treated as revocable for the relevant period, so the statutory valuation rule applicable to revocable gifts was attracted. The result was that both the share valuation and the treatment of the transfers were decided in favour of the assessee. en-us Fri, 23 Aug 1991 00:00:00 +0530 Sat, 08 Jan 2011 13:27:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60860 Unquoted equity shares transferred or gifted were required to be valued for gift-tax purposes on the yield method because binding Supreme Court decisions governed the valuation of such shares, and the earlier tribunal approach could not prevail over law declared under Article 141. Gifts made subject to a limited revocation option were treated as revocable for the relevant period, so the statutory valuation rule applicable to revocable gifts was attracted. The result was that both the share valuation and the treatment of the transfers were decided in favour of the assessee. Case-Laws Income Tax Fri, 23 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60860