1992 (4) TMI 21 - HC - Wealth-tax

Summary

The High Court of Rajasthan ruled in favor of the assessee, holding that the valuation of shares in Krishna Mills Ltd. should be based on the yield method, not the break-up method. The court referred to Supreme Court decisions supporting the use of the yield method for valuing shares in a going concern. The Revenue's application for reference was rejected, and the assessee was awarded costs of Rs. 600.