1990 (6) TMI 16

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....er section 27(1) of the Wealth-tax Act, 1957, at the instance of the assessee and at the instance of the Department : At the instance of the assessee : "(i) Whether the Tribunal erred in law in holding that rule ID of the Wealth-tax Rules, 1957, was mandatory in valuing the 4,229 shares of Surat Cotton Spg. and Wvg. Mills Pvt. Ltd. at the valuation date March 31, 1968 and in confirming the valua....

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....are not to be reduced by the amount paid as advance-tax in terms of rule ID of the Wealth-tax Rules, 1957 ?" It is an accepted position that questions (i) and (ii) which are at the instance of the assessee are governed by the ratio laid down by this court in the case of Smt. Kusumben D. Mahadevia v. N. C. Upadhya [1980] 124 ITR 799. Accordingly, question No. (i) at the instance of the assessee i....