1990 (6) TMI 16 - HC - Wealth-tax

Summary

The High Court of Bombay addressed questions under the Wealth-tax Act, 1957, regarding valuation of shares and treatment of liabilities. The court ruled in favor of the assessee on valuation issues based on previous court decisions. The question raised by the Commissioner was also answered in favor of the assessee based on a previous court decision. No costs were awarded.