Appointment of valuation officers of shares, stocks etc., u/s.12 A of the Wealth-tax Act, 1957.

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....ks etc., u/s.12 A of the Wealth-tax Act, 1957 in every charge. References are made to these valuation officers under the provisions of sec.16 A of the wealth-tax Act,1957/sec.15(6) of the Gift-tax Act, 1958/sec.55A of the I.T.Act for the purpose of determining the fair market value of unquoted shares of companies. 2. The point at issue is whether the value of the unquoted equity shares of a compa....

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....ee would entail multiplicity of proceedings and litigation and avoidable delays in finalisation of assessments they are also conscious of the fact that the interests of revenue could be jeopardised to a great extent if the valuation made by the valuation officer in a particular case has not been made on a sound and realistic basis. In short, though it is desirable to adopt the same value in respec....