1986 (9) TMI 109 - AT - Wealth-tax

Summary

The revenue appealed the valuation of shares in Paper Products Ltd. by the assessee for the assessment year 1983-84. The dispute was between the Delhi and Bombay stock exchange valuations. The AAC accepted the Bombay stock exchange valuation based on the latest transaction date being closer to the valuation date. The ITAT upheld the AAC's decision, stating that the Bombay stock exchange valuation was rightly accepted. The appeal was dismissed.