https://www.taxtmi.com/caselaws?id=6289 Whether additional super-tax payable under section 23A of the Indian Income-tax Act, 1922, or section 104 of the Income-tax Act, 1961, was deductible in computing the break-up value of shares for wealth-tax purposes was a question of law, not fact. The Tribunal was therefore bound to refer the question to the High Court under section 27(1) of the Wealth-tax Act, 1957, because it arose directly from the Tribunal's order. The refusal to state the case was unjustified, and the High Court should have directed a reference. The appeals were allowed and the matter was remitted for disposal in accordance with law. en-us Wed, 04 Aug 1971 00:00:00 +0530 Wed, 03 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6289 Whether additional super-tax payable under section 23A of the Indian Income-tax Act, 1922, or section 104 of the Income-tax Act, 1961, was deductible in computing the break-up value of shares for wealth-tax purposes was a question of law, not fact. The Tribunal was therefore bound to refer the question to the High Court under section 27(1) of the Wealth-tax Act, 1957, because it arose directly from the Tribunal's order. The refusal to state the case was unjustified, and the High Court should have directed a reference. The appeals were allowed and the matter was remitted for disposal in accordance with law. Case-Laws Income Tax Wed, 04 Aug 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6289