https://www.taxtmi.com/caselaws?id=61190 The Appellate Tribunal ITAT Chandigarh allowed the appeal in favor of the assessee in a dispute over the valuation of shares under the Wealth Tax Act. The Tribunal directed the Wealth Tax Officer to revalue the shares at Rs. 169.70 per share, considering deductions for provisions for taxation and gratuity to staff, similar to the valuation in a previous case involving the assessee's father. The Tribunal criticized the inconsistent valuation approach taken by the revenue and found the initial valuation by the Wealth Tax Officer to be incorrect, leading to a recomputation of taxable wealth in favor of the assessee. en-us Wed, 26 May 1982 00:00:00 +0530 Tue, 11 Jan 2011 12:32:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61190 The Appellate Tribunal ITAT Chandigarh allowed the appeal in favor of the assessee in a dispute over the valuation of shares under the Wealth Tax Act. The Tribunal directed the Wealth Tax Officer to revalue the shares at Rs. 169.70 per share, considering deductions for provisions for taxation and gratuity to staff, similar to the valuation in a previous case involving the assessee's father. The Tribunal criticized the inconsistent valuation approach taken by the revenue and found the initial valuation by the Wealth Tax Officer to be incorrect, leading to a recomputation of taxable wealth in favor of the assessee. Case-Laws Wealth-tax Wed, 26 May 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61190