WEALTH TAX OFFICER Vs. RAM DEEN SINGH

JUDGEMENT

(1.) THE Tribunal, Allahabad, has stated a case and referred the following question for the opinion of this Court :

(2.) WE have heard Shri Prakash Krishna, learned counsel for the CIT and Shri Bharat Ji Agarwal, Senior Advocate for the assessee -respondent.

(3.) THE Revenue has not challenged the Tribunal's finding about the investment in money -lending business, cash and ornaments. Since these items stand excluded from the net wealth of the assessee, the inclusion of agricultural land would not result in any taxable wealth and the net wealth after exemption under S. 5 of the Act, would be below the taxable limit. Therefore, in view of the other findings of the Tribunal, the question that has been referred for the opinion of this Court is merely of academic interest. We, therefore, decline to answer the same. The reference is returned unanswered.