P A JOSE Vs. UNION OF INDIA

JUDGEMENT

(1.) Common question of law arise in the above appeals as to the cash-in-hand; on the valuation date, of the assessees, all proprietary businesses, being capable of assessment under the Wealth Tax Act, 1957 (for brevity the 'Act'), despite the same being disclosed in the books of accounts. An ancillary question in some of the appeals is the applicability of Section 25 of the Act; the power of suo motu revision. The appeals were once dismissed, answering the questions against the assessees, by a common judgment dated 24-07-2009 Commissioner of Wealth Tax v. K.R.Ushasree,2011 332 ITR(Ker) 75 , The assessee in W.T.A.No.4/1998, who is concerned with more than one assessment year, had challenged the decision before the Hon'ble Supreme Court. By judgment dated 15-07-2015, the Supreme Court found that the High Court committed an error by not framing a substantial question of law as per the provisions of Section 27A(3) of the Wealth Tax Act, 1957 (for short 'the Act').

(2.) Having gone through the various appeals, we are of the opinion that the substantial questions of law could be framed as follows:-

(3.) The learned Counsel appearing for the assessees in the appeals, which were remanded by the Hon'ble Supreme Court, has also brought to our notice a Writ Petition pending, on a challenge made to the provision, numbered as W.P.(C) No.23487/2010. We, hence called for the Writ Petition also to be heard along with the appeals; especially since all these cases are pending for long and the disposal of the appeals without addressing the challenge to the provision under which the assessment was facilitated, would cause prejudice to the assessees.