2000 (9) TMI 3

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..... the assessee's method of valuation in respect of unquoted shares in preference to the valuation adopted by the Wealth-tax Officer as per the provisions of rule 1D - questions are answered in favour of revenue - - - - - Dated:- 21-9-2000 - Judge(s) : S. P. BHARUCHA., Y. K. SABHARWAL. and MS. RUMA PAL. ORDER Four questions were before the High Court (see [1992] 194 ITR 539 (Kar)) in .....

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..... stified in law in adopting the market value of the unquoted equity shares after 1967 ignoring the provisions of rule 1D? (4) Whether, on the facts and in the circumstances of the case, the Tribunal is right in law in adopting the market value of the unquoted shares of Jindal Aluminium Ltd. at Rs. 100 per share as against the value determined by the Wealth-tax Officer?" The High Court answered .....

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