2010 (9) TMI 278

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....d 29.12.1995 by which the Tribunal has rejected the reference applications and refused to refer the question of law sought by the revenue. The dispute on which the revenue has sought the references relate to the determination of the value of the unquoted shares of the Company held by the assessee under Rule 1D of the Wealth Tax Rules (the Rules).   2. It appears that by the Ordinance of 1990....

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....s held that the liability of the sales tax which accrued retrospectively by the Ordinance of 1990 could not be ignored which was also reflected in the balance sheet drawn subsequently.   4. We do not see any error in the order of the Tribunal. The Tribunal in the impugned order dated 29.12.1995 has also observed that similar question also arose in the earlier years in the case of assessee it....