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    <title>1990 (11) TMI 49 - ALLAHABAD High Court</title>
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    <description>Questions of law were found to arise for reference under section 27(3) of the Wealth-tax Act, 1957 concerning valuation of shares on yield basis and the applicability of rule 1D of the Wealth-tax Rules. Relying on existing decisions, the HC held it sufficient to refer only questions Nos. 1 and 3, treating question No. 2 as implicit in those questions. The Tribunal was directed to state questions Nos. 1 and 3 under section 27(3).</description>
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      <description>Questions of law were found to arise for reference under section 27(3) of the Wealth-tax Act, 1957 concerning valuation of shares on yield basis and the applicability of rule 1D of the Wealth-tax Rules. Relying on existing decisions, the HC held it sufficient to refer only questions Nos. 1 and 3, treating question No. 2 as implicit in those questions. The Tribunal was directed to state questions Nos. 1 and 3 under section 27(3).</description>
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