COMMISSIONER OF WEALTH TAX Vs. N J CHANDY

JUDGEMENT

(1.) THE question referred is as follows :

(2.) ON first principles it is not possible to accept the contention and this is the course adopted by the WTO who refused to reduce the tax liability by the amount of advance tax as shown in the balance sheet.

(3.) FOR the above reasons the question referred is answered in the negative in favour of the Revenue and against the assessee.