COMMISSIONER OF WEALTH TAX Vs. SHAKTI SIKAND

JUDGEMENT

(1.) THE petitioner seeks reference of the following question to this Court :

(2.) THE assessee was one of the co -owners of a house having one -third share therein and had received advance rent to be adjusted every year. A question arose as to whether this advance rent could be regarded as a debt due to the tenant or not.

(3.) THE aforesaid observations of the Tribunal are findings of fact and they clearly show that the outstanding amount was being held by the assessee for and on behalf of the tenants. It was, in other words, a debt due to the tenants because the Tribunal has found that if the tenancy was determined, then the amount had to be returned and could not be retained by the assessee.