LAWS(CAL)-1994-8-38

COMMISSIONER OF WEALTH TAX Vs. VIKRAM SWARUP

Decided On August 26, 1994
COMMISSIONER OF WEALTH-TAX Appellant
V/S
VIKRAM SWARUP Respondents

JUDGEMENT

(1.) At the instance of the Revenue, the following two questions have been referred by the Income-tax Appellate Tribunal under Section 27(3) of the Wealth-tax Act, 1957 (hereinafter referred to as "the Act"), for the opinion of the High Court :

(2.) The reference relates to the valuation of shares corresponding to the assessment years 1979-80 and 1983-84.

(3.) The question involved in this case relates to the valuation of unquoted equity shares held by the assessee in Paharpur Cooling Towers Pvt. Ltd.