TMI Blog1986 (9) TMI 109X X X X Extracts X X X X X X X X Extracts X X X X ..... eld by the assessee in Paper Products Ltd. 2. The assessment year involved is 1983-84 and the date of valuation is 31-3-1983. The assessee owned certain shares in the Paper Products Ltd. which were quoted both by the Delhi stock exchange and the Bombay stock exchange. As per Delhi stock exchange, the value of the share was Rs. 14.50 per share while as per Bombay stock exchange, it was Rs. 10 per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anges. He submitted that as per Delhi stock exchange, the last transaction was dated 5-1-1983 whereas as per Bombay stock exchange it was dated 15-3-1983, on which value of share was worked out. Under the circumstances, he pressed that no interference be made in the order of the learned AAC. 5. After taking into consideration the rival submissions and going through the record we are unable to in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ich is still later which was at the rate of Rs. 10 per share. Apparently, Bombay stock exchange is close to the date of valuation and, therefore, quotation therefrom was, rightly accepted by the AAC. The learned senior departmental representative in rejoinder, pressed the revenue's claim that a rider be given that in case transaction on closer date to 31-3-1983 are higher, then that be adopted. Si ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
