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1972 (2) TMI 9 - MADRAS HIGH COURTWhether, on the facts and in the circumstances of the case, the shares held by the assessee in the Madras Motor and General Insurance Co. Ltd. has been valued in accordance with the Wealth-tax Act – Whether the amounts shown in balance sheet under the head "balance of funds and accounts" and "reserves and surplus" are to be considered for finding out intrinsic value of shares of an insurance company - result will be that the Tribunal has to work out the intrinsic value of the shares after excluding the amounts standing to the credit of " balance of funds and accounts " in each of the years
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