MGN IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WEALTH TAX REFERENCE NO.6 OF 1985 Commissioner of Wealth Tax.....Aplicant Vs. Master P.R. Maafatlal.........Respondent Mr. P.S. Sahadevan, for the Applicant. CORAM: F.I. CORAM: F.I. CORAM: F.I. REBELLO REBELLO REBELLO & R.S.MOHITE, JJ. R.S.MOHITE, JJ. R.S.MOHITE, JJ. DATED: 13th February, 2009 DATED: 13th February, 2009 DATED: 13th February, 2009 P.C.: P.C.: P.C.: . The Tribunal has referred the following question :- "Whether on the facts and in the circumstances of the case, for the purpose of valuation of shares of M/s.Surat Cotton Spg. and Mvg. Mills P. Ltd. held by the assessee, under Rule 1D of the Wealth-tax Rules, 1958, the amount of advance-tax paid by the company should not be deducted from the amount shown as provision for taxation in its balance sheet?" . The issue is answered in favour of the Revenue by the judgment of the Supreme Court in in Bharat Hari Singhania v. CWT (1994) 207 ITR 1 (SC) Bharat Hari Singhania v. CWT (1994) 207 ITR 1 (SC) Bharat Hari Singhania v. CWT (1994) 207 ITR 1 (SC). In the light of the above, Reference answered in the negative against the assessee and in favour of the Revenue. (R.S.MOHITE, J.) (F.I.REBELLO,J.) (R.S.MOHITE, J.) (F.I.REBELLO,J.) (R.S.MOHITE, J.) (F.I.REBELLO,J.)