1991 (2) TMI 45

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..... estions : "(1) Whether, on the facts and in the circumstances of the case, rule 1D of the Wealth-tax Rules overrides the provisions of section 24(6) of the Wealth-tax Act ? (2) Whether, on the facts and in the circumstances of the case, it is open to the Revenue to rely upon rule 1D even though no specific argument was raised before the Tribunal ? (3) Whether on the facts and in the circumst .....

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..... ct. Both provisions operate in their respective distinct fields. Question No. 2 is answered saying that it is open to the Department to rely upon rule 1 D in this reference, notwithstanding the fact that the rule as such does not appear to have been relied upon before the Tribunal. Question No. 4 is answered by saying that, while valuing the unquoted shares, the valuers are bound to apply the meth .....

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