1990 (8) TMI 82

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....3. The statement of case has been made by the Income-tax Appellate Tribunal on the following question of law: "Whether, on the facts and in the circumstances of the case, while valuing the deceased's interest in a partnership firm of which he was partner under section 36 of the Estate Duty Act, some of the assets of the said firm could be revalued disregarding the value of these assets as appea....

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....nce-sheet and, accordingly, the valuation as given in the balance-sheet is to be accepted. He relied upon a decision reported in Surajmall Gouti v. CED [1979] 119 ITR 182, a decision of the Calcutta High Court. In the departmental appeal before the Tribunal, the view taken by the Controller was accepted relying upon the decision reported in Smt. Gunvantibai v. CED [1981] 130 ITR 122 of the Madhya ....