2004 (8) TMI 89

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....1) of the Wealth-tax Act, 1957 (hereinafter referred to as "the Act"), for the opinion of this court: 1. Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was legally correct in holding that in determining the value of the shares of J.K. Jute Mills Ltd., under rule 1D of the Wealth-tax Rules, 1957, deduction was to be allowed in respect of accumulated d....

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....essee preferred an appeal before the Commissioner of Wealth-tax (Appeals) who while allowing the appeal directed the Wealth-tax Officer to rework out the value of shares of J.K. Jute Mills Ltd., under rule 1D after deducting the accumulated outstanding dividend as per income-tax assessments in the case of the above company and accordingly modified the value of the shares to that extent. The appea....