https://www.taxtmi.com/caselaws?id=67977 The Tribunal rejected the reference applications, concluding that Rule 2B(2) was not applicable as the Department failed to prove market value exceeding book value by more than 20 percent. The issue of onus was not considered as it was not raised in the appeal. The firm qualified as an industrial undertaking under Section 5(1)(xxxii) of the WT Act, exempting the assessee's interest. en-us Mon, 28 Sep 1987 00:00:00 +0530 Wed, 16 Mar 2011 11:47:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67977 The Tribunal rejected the reference applications, concluding that Rule 2B(2) was not applicable as the Department failed to prove market value exceeding book value by more than 20 percent. The issue of onus was not considered as it was not raised in the appeal. The firm qualified as an industrial undertaking under Section 5(1)(xxxii) of the WT Act, exempting the assessee's interest. Case-Laws Wealth-tax Mon, 28 Sep 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67977