9911796707
TMI Blog835/CBDT.X X X X Extracts X X X X X X X X Extracts X X X X ..... rivate company contain restrictive provisions as to the alienation of shares, the value of the shares, if not ascertainable by reference to the value of the total assets of the company, shall be estimated to be what they would fetch if they could be sold in the open market on the terms of the purchaser being entitled to the registered as holder subject to the articles, but the fact that a special ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... purchaser being entitled to be registered as holder subject to the articles, disregarding any special price that might be paid by a special buyer. If clause (a) applies, the value of shares should be determined by break-up method taking the market value of the assets of the company and not the book value, if that does not happen to be their market value. If clause (b) applies then the Assessing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 3rd May, 1965 and 5th July, 1965 issued from File No. 25A/3/65-ED. Thus, the expression "value of the total assets of the company" in section 37 of the Estate Duty Act would mean market value of the assets and not the book value of the assets; further, the expression 'total assets of the company' would include goodwill also, whether or not shown as such in the balance sheet. 3. An allied i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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