The As per the case facts, the issue involves valuing shares gifted by a company. These shares were listed but were promoter quota shares under a lock-in period when gifted. ... The appeal concerns whether these shares should be considered "quoted" or "unquoted" for taxation. The question arose whether a stock exchange certificate is the sole determinant for a share being "quoted" or "unquoted" under the Gift Tax Act, 1958, and relevant rules, thereby restricting authorities from independent examination. Finally, the Supreme Court dismissed the Revenue's appeal, clarifying that while a stock exchange certificate indicates regular quoting, it does not prevent tax authorities from independently determining if a share is "quoted" or "unquoted" based on the rules.appeal has been preferred before the Honble Apex court regarding the issues of Gift Shares