MEENAKSHI MILLS LIMITED Vs. COMMISSIONER OF WEALTH TAX

JUDGEMENT

(1.) THIS reference arises under section 27(1) of the Wealth-tax Act, 1957, the following being the questions for decision

(2.) WHETHER, on the facts and in the circumstances of the case, the sum of Rs. 1,95,958, representing the difference in the amount of initial depreciation allowed but not written off in the books was rightly disallowed in the competition of the net wealth under section 7(2) (a) for the valuation dates March 31, 1957 and March 31, 1958