Law:

Section:

Section 64 of the Estate Duty Act, 1953 - High Court - Reference to - Revenue filed application for reference on ground that valuation of HUF property made by Tribunal was based on improper appreciation of evidence - Whether since High Court could not reappreciate evidence on question of valuation, said question could not be referred - Held, yes FACTS The revenue filed the reference application on the ground that the valuation of the HUF property made by the Tribunal was based on improper appreciation of evidence in the shape of wealth-tax order and record. HELD Since the High Court could not reappreicate the evidence on the question of valuation, the said question could not be referred. -Decision was against the revenue. JUDGMENT This is an application for reference filed by the Revenue against the order of the Tribunal dated November 26, 1985, rejecting the application filed on its behalf for referring the two questions mentioned below to this court: "1.Whether, on the facts and in the circumstances of the case, the Income tax Appellate Tribunal was…

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