1989 (12) TMI 28

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..... the Delhi High Court in CWT v. Himalaya Trading Co. [1987] 168 ITR 586. The objection was that the Tribunal having adopted a particular method of calculating the fair market value which was reasonable and proper, no question of law can be said to arise out of the order of the Tribunal. We are unable to agree. In our opinion, the objection begs the issue whether this application should be allowed .....

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..... etermining the assessee's interest in the partnership firm by adopting the fair market value of the assets in question, namely, the cinema building, on the income mobilisation basis instead of the land and building method adopted by the Wealth-tax Officer ? (2) If the answer to the above question is in the negative and against the assessee, then what ought to be the correct fair market value of .....

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