1971 (8) TMI 21

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..... , is a finding of fact,. Hence, the Tribunal was wrong in refusing to refer that question for the opinion of the High Court under section 27(1) - - - - - Dated:- 4-8-1971 - Judge(s) : K. S. HEGDE. and A. N. GROVER. JUDGMENT The judgment of the court was delivered by HEGDE J.-- The only question that arises for decision in these appeals is whether the High Court was justified in rej .....

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..... of case. In these appeals we are concerned with the valuation of the assessee's wealth during the years ending March 31, 1960, March 31, 1961, and March 31, 1962. One of the points contested by the department related to the computation of the value of the shares held by the assessee in two companies, viz., Franco Indian Manufacturers Pvt. Ltd. and Franco Indian Pharmaceutical Pvt. Ltd. To both .....

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..... decision of the Appellate Assistant Commissioner. From the facts set out above, it is quite clear that the question of law formulated by the department did arise for consideration. The Tribunal erred in opining that its finding that the additional tax payable under section 23A is deductible, is a finding of fact,. Hence, the Tribunal was wrong in refusing to refer that question for the opinion .....

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