COMMISSIONER OF WEALTH TAX Vs. N.L. BHARGAVA

JUDGEMENT

(1.) This wealth tax reference is pending since 1990. It is connected with Estate Duty Reference No. 946 of 1978 raising same issues of fact.

(2.) We have heard Shri Sambhu Chopra, learned Counsel appearing for the Commissioner of Wealth Tax (CWT). Shri Naresh Chandra Bhargava -Respondent died on 30.4.2002. The CWT filed an application for substitution on which notices were issued. Shri Ballabh Shukla, the Inspector in the office of Addl. Commissioner of Income Tax, Range -2, Allahabad filed affidavit of service on 2.12.2003 including therewith notice served upon the heirs of Shri Naresh Chandra Bhargava. By order dated 7.9.2010 the application for condonation of delay and the application for substitution was allowed. The Respondents have been served personally through the office of the Addl. Commissioner of Income Tax, Range -2, Allahabad. No one has put in appearance on behalf of the Respondent.

(3.) By order dated 16th January, 1989 this Court directed the Income Tax Appellate Tribunal, Allahabad Bench to draw up the statement of the case and refer following questions of law for the assessment year 1957 -58 to 1961 -62: