1999 (8) TMI 5 - SCH - Wealth-tax

Whether on the facts and in the circumstances of the case the Tribunal was right in law in holding that the value of the stock-in-trade does not require to be included in the net wealth for the purpose of determining the wealth-tax liability of the assessee-company - question of law arise - hence tribunal is directed to state the case and refer the above question of law to the High Court

Summary

The Supreme Court granted special leave and directed the Tribunal to refer a question of law to the High Court regarding the inclusion of stock-in-trade value in determining wealth-tax liability of an assessee-company. The appeals were disposed of accordingly.