COMMISSIONER OF WEALTH TAX Vs. GOPAL SUTWALA

JUDGEMENT

(1.) THE Tribunal, Allahabad, has referred the two questions of law under s. 27(1) of the WT Act, 1957, hereinafter referred to as 'the Act', for opinion to this Court :

(2.) THE present reference relates to the asst. yrs. 1973 -74 to 1975 -76.

(3.) BRIEFLY stated, the facts giving rise to the present reference are as follows : The assessees who are Gopal Sutwala (Individual), Gopal Sutwala (Karta) of Hira Lal Sutwala (HUF) and Smt. Parti Devi (HUF) are co -owners in the following five properties :