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1973 (5) TMI 19 - HC - Wealth-tax(1) Whether Tribunal was right in holding that in computing the net assets of W.H. Harton & Co. Ltd. for the purpose of determining the break-up value of its shares the sum of Rs. 61,800 being the amount of proposed dividend should be allowed as a deduction ? (2) Whether, Tribunal was legally justified in holding that the assessee was not the owner of 32,440 shares of Rohtas Industries Ltd. ? (3) If the answer to the question No. 2 is in the negative, then whether the Tribunal was justified in holding that in respect of the shares of Rohtas Industries Ltd., only a sum of Rs. 1,63,200 should be included in the net wealth of the assessee? "In the premises, the question No. (2) will have to be answered in the affirmative and in favour of the assessee and in that view the question No. (3) does not arise. But we must make it clear that the assessee was the owner of the sum of Rs. 1,63,200 and the money belonged to the assessee. In any view of the matter, therefore, in respect of this money the assessee was the owner and it belonged to the assessee and it had been rightly included in the net wealth of the assessee
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