SHARDABEN BHAGUBHAI MAFATLAL Vs. COMMISSIONER OF WEALTH TAX

JUDGEMENT

(1.) THE Tribunal has referred to this Court two questions of law. The questions read thus :

(2.) THE counsel are ageed that in view of this Court's judgment in the case of Smt. Kusumben D. Mahadevia vs. CWT (1980) 14 CTR (Bom) 20 : (1980) 124 ITR 799 (Bom), the first question must be answered in the negative and in favour of the assessee and as regards second question it must be held that the share of Surat Cotton Spinning and Weaving Mills Pvt. Ltd. should be valued at Rs. 175 per share as valued by the valuer. Accordingly the questions are so answered.

(3.) NO order as to costs.