CH HARSHPATI Vs. COMMISSIONER OF WEALTH-TAX

JUDGEMENT

(1.) UNDER Section 27(1) of the Wealth-tax Act, 1957, the Tribunal has referred the following question for our opinion :

(2.) IT is stated by counsel for both the parties that this question has to be answered in the negative, i.e., in favour of the Revenue and against the assessee, following the decision of this court in Bharat Hari Singhania v. CWT [1979] 119 ITR 258. The reference is answered accordingly. No costs.