COMMISSIONER OF WEALTH TAX Vs. GOVINDRAM TOPANDAS

JUDGEMENT

(1.) SINCE in both these references, the dispute between the assessee and the Revenue is of identical nature, though the questions which have been raised are slightly in different terms, and since they arise out of the same facts but pertaining to two sets of different assessment years, namely, 1961 62 to 1963 64, in WT Ref. No. 5 of 1977 and 1964. 65 to 1968 69 in WT Ref. No. 19 of 1976, we intend to dispose of both these references by this common judgment.

(2.) A few relevant facts need be noticed in order to appreciate the dispute sought to be raised by the respective questions.

(3.) THE WTO has in the assessment order valued the wealth of the assessee at Rs. 5,72,892 being the amount of compensation for the land acquired. As a matter of fact, the learned civil Judge has awarded additional compensation of Rs. 5,04,824,12 which included the solatium amount at the statutory rate together with 4per cent interest on the additional amount of compensation. This additional amount of compensation was over and above the amount of compensation of Rs. 24,293 awarded by the Land Acquisition Officer.