COMMISSIONER OF WEALTH TAX Vs. AISHA BEGUM

JUDGEMENT

(1.) THE Tribunal, Allahabad has referred the following question of law under s. 27(1) of the WT Act, 1957 (hereinafter referred to as the Act) for opinion of this Court : "Whether, on the facts and in the circumstances of the case, the Tribunal was legally correct in holding that the assessee was entitled to claim exemption in respect of the land and building owned by the firm in computing the value of his interest in the said firm under s. 5(1)(xxxii) of the WT Act, 1957 -

(2.) THE reference relates to the asst. yrs. 1973 -74, 1974 -75 and 1975 -76.

(3.) BRIEFLY stated the facts giving rise to the present reference are as follows :