1994 (1) TMI 16

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....ich are identical in both the cases are referred to this court : " 1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that for determining the market value of the shares of Messrs. T. V. Sundaram Iyengar and Sons Private Limited, gifted on March 14, 1974, the proper balance-sheet to be taken was as on March 31, 1973, and not the balance-sheet as on ....

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..... Whether, on the facts and in the circumstances of the case, the Tribunal was justified in examining the contentions raised by the assessee that discount higher than 15 per cent. should be granted when the appeal before the Tribunal was an appeal by the Revenue ? " The first question, which is common to both the cases is covered by a judgment of this court in CGT v. Venu Srinivasan [1985] 156 ....