1992 (8) TMI 4 - HC - Wealth-tax

Summary

The High Court of Madras dismissed the tax case petitions under the Wealth-tax Act, 1957. The court upheld the valuation method of the interest of the remainderman as presented by the assessee, based on a will dated September 16, 1970. The court found the method of valuation to be correct and supported by the Supreme Court's observations. No referable question of law arose from the Tribunal's order. The petitions were dismissed with no costs.