COMMISSIONER OF WEALTH TAX Vs. T M JOSEPH

JUDGEMENT

(1.) BOTH these tax case petitions are filed by the Commissioner 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 :

(2.) THE assessee - Mr. T. M. Joseph, Madras, an individual, it appears, was holding 1,800 unquoted equity shares in Bengal Marines (P.) Ltd. He valued the shares on yield basis in the wealth-tax proceedings.

(3.) THE Tribunal, by its order, dated September 29, 1993, rejected the reference application and refused to state a case, as in its view, there is no referable question of law arising out of the order, giving rise to the present actions-Tax Case Petitions Nos. 624 and 625 of 1997.