1994 (9) TMI 19

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....of law for our opinion: " Whether, on the facts and in the circumstances of the case, the method adopted by the Tribunal for valuing the cost of shares in the hands of the respective assessee for the purpose of arriving at the taxable capital gains is correct in law ?" The assessee has admittedly held 1,031 shares in Madras Motors and General Insurance Co. Ltd. which was acquired by the Governme....

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.... ITR 644 (Mad) dealt with this controversy in this question. This court, on a detailed consideration of the facts and the circumstances, in the context of the law on the subject, has held that the method adopted by the Tribunal for valuing the cost of the shares in the hands of the respective assessees for the purpose of arriving at the taxable capital gains, is correct in law. This court in the s....