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1998 (3) TMI 11 - HC - Wealth-taxWealth Tax, Valuation Of Assets, Valuation Of Property, Deposits In Banks - "1. Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is correct in holding that the probable estate duty payable on the death of the life tenant has to be taken into account and the value of the property will be diminished by that for charge of wealth-tax in the hands of the remaindermen? - 2. Whether, on the facts and in the circumstances of the case, the Income tax Appellate Tribunal is justified in holding that the rate of interest adopted by the assessee's actuary is correct? - 3. Whether, on the facts and in the circumstances of the case, the Income tax Appellate Tribunal is justified in holding that the rate of interest as given in the Wealth-tax Rules for valuation of life interest is applicable to the present case where the corpus is jewellery which is appreciable asset?"
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