https://www.taxtmi.com/caselaws?id=24483 Construction of rule 2B(2) of the Wealth-tax Rules, 1957 raised a question of law because applicability depended on whether the market value of closing stock exceeded the disclosed balance-sheet value by more than 20 per cent and on which party bore the burden of proving that foundational fact. The Tribunal was therefore required to state the case on that issue. Construction of section 5(1)(xxxii) of the Wealth-tax Act, 1957, read with the Explanation to section 5(1)(xxxi), likewise raised a question of law because the exemption claim turned on statutory interpretation. The Tribunal was required to refer both questions to the High Court. en-us Tue, 24 May 1988 00:00:00 +0530 Wed, 20 Jan 2010 14:01:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24483 Construction of rule 2B(2) of the Wealth-tax Rules, 1957 raised a question of law because applicability depended on whether the market value of closing stock exceeded the disclosed balance-sheet value by more than 20 per cent and on which party bore the burden of proving that foundational fact. The Tribunal was therefore required to state the case on that issue. Construction of section 5(1)(xxxii) of the Wealth-tax Act, 1957, read with the Explanation to section 5(1)(xxxi), likewise raised a question of law because the exemption claim turned on statutory interpretation. The Tribunal was required to refer both questions to the High Court. Case-Laws Wealth-tax Tue, 24 May 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24483