1998 (11) TMI 24 - HC - Wealth-tax

Summary

In a case regarding the valuation of unquoted equity shares for Wealth-tax purposes, the High Court of Madras remitted the matter back to the Appellate Tribunal to determine the exact quantum of sales tax liability towards penalty on the valuation date. This decision followed a previous case where the Tribunal's order was deemed relevant in determining the value of liabilities under rule 1D of the Wealth-tax Rules.