1990 (5) TMI 35 - HC - Wealth-tax

Summary

The High Court of Rajasthan dismissed an application under section 27(3) of the Wealth-tax Act, 1957, regarding the valuation of Prem Prakash Cinema building owned by a firm. The Tribunal held that the building was an urban business asset and that the valuation was a question of fact, rejecting the Department's application for reference.