R.L.Narasimham, J.

1. This is a reference under Sub-section (1) of Sec.27 of the Wealth Tax Act, 1957 (hereinafter referred to as the Act), by the Income-tax Appellate Tribunal, Patna, stating the following questions of law for the opinion of this Court:

"1. Whether, in computing the market value of the shares, the assessee is entitled to the deduction of a sum of Rs. 2,30, 546 by way of brokerage commission?

"2. Whether, on a true construction of Sections 5 (1) (viii) and 5(1) (xv) of the Wealth-Tax Act, the assessee is entitled to the exclusion of the value of jewellery amounting to Rs. 27, 27, 330 from the computation of his total wealth?

"3. Whether any part of the amount of Rs. 36, 87, 419 fixed as compensation payable to the assessee under the Bihar Land Reforms Act is liable for inclusion in the total wealth of the assessee?"

2. The assessee was the late Maharajadhiraj of Darbhanga. While computing his net assets for the purpose of the Wealth Tax Act, a dispute arose in respect of (1) the deduction from the market value of the shares held by the assessee of the brokerage commission (question No. 1), (2) complete exclusion from the assets of those ornaments and jewell