https://www.taxtmi.com/caselaws?id=23847 Section 34B of the Wealth-tax Act was considered in relation to gifted shares said to have been included in the assessee's net wealth. The High Court noted that the Tribunal had affirmed the Commissioner (Appeals)' deletion of the addition, on the basis that the Wealth-tax Officer was not justified in invoking section 34B to include the value of the gifted assets. The Court held that the propriety of invoking section 34B and the Tribunal's affirmation of the deletion raised a question of law requiring its opinion, and therefore allowed the application under section 27(3) and directed the Tribunal to state the case and refer the framed question. en-us Fri, 11 Aug 1989 00:00:00 +0530 Thu, 14 Jan 2010 17:08:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23847 Section 34B of the Wealth-tax Act was considered in relation to gifted shares said to have been included in the assessee's net wealth. The High Court noted that the Tribunal had affirmed the Commissioner (Appeals)' deletion of the addition, on the basis that the Wealth-tax Officer was not justified in invoking section 34B to include the value of the gifted assets. The Court held that the propriety of invoking section 34B and the Tribunal's affirmation of the deletion raised a question of law requiring its opinion, and therefore allowed the application under section 27(3) and directed the Tribunal to state the case and refer the framed question. Case-Laws Wealth-tax Fri, 11 Aug 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23847