9911796707
TMI Blog1997 (11) TMI 57X X X X Extracts X X X X X X X X Extracts X X X X ..... r of Wealth-tax, Tamil Nadu-III, Madras, under section 27(3) of the Wealth-tax Act, 1957, for issuance of a direction to the Tribunal to state a case and refer the common questions of law, as below, for the opinion of this court : "(1) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that while valuing the unquoted equity shares, the v ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Court in CGT v. Kusumben D. Mahadevia (Smt.) [1980] 122 ITR 38 and the decision of this court in CWT v. Sabita Chandran (Smt.) [1985] 151 ITR 210 and CWT v. Sharbati Devi Jhalani [1990] 182 ITR 487 (Delhi). The Revenue appealed to the Tribunal. The Tribunal, in turn, following the decision of this court in K. M. Mammen v. WTO [1983] 139 ITR 357 and also the decision of the Supreme Court in CGT ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cases representing the Revenue, and Mr. Philip George, learned counsel appearing for the respondent, were heard. The said learned counsel representing the Revenue drew our attention to a recent decision of the apex court of this country in the case of Bharat Hari Singhania v. CWT [1994] 207 ITR 1, wherein their Lordships of the Supreme Court, referring to a catena of decisions emerging from the S ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
