J K CHARITABLE TRUST Vs. WEALTH TAX OFFICER

JUDGEMENT

(1.) BY this petition under Article 226 of the Constitution of India, the petitioner has challenged the notice dated August 16, 1976, issued by the Wealth-tax Officer under Section 17 of the Wealth-tax Act, 1957, for the assessment year 1973-74, requiring the assessee-petitioner to file its return of wealth for the said year and the subsequent notices dated January 31, 1978, March 10, 1978, March 11, 1978 and April 15, 1978, issued by the Valuation Officer in connection with the valuation of the assets of the petitioner.

(2.) COUNTER and rejoinder affidavits have been exchanged.

(3.) IN the counter-affidavit, it was alleged that the petitioner was not a public charitable trust and was not entitled to exemption under the INcome-tax and Wealth-tax Acts and that the controversy between the parties about the eligibility of exemption to the petitioner has not been finally settled and application under Section 256(1) for reference to the High Court is pending.