1991 (3) TMI 40 - HC - Income Tax

Summary

The High Court of Allahabad upheld the Tribunal's decision to accept the assessee's valuation of shares for capital gains tax purposes. The Tribunal found the Appellate Assistant Commissioner's direction to use the assessee's valuation appropriate. The Court ruled in favor of the assessee, stating that the Tribunal was justified in affirming the Appellate Assistant Commissioner's order.