COMMISSIONER OF WEALTH TAX Vs. VIAYKISHORE BALLABHDAS RATHI

JUDGEMENT

(1.) The question which has been referred to this Court u/s 27(1) of the WT Act, 1957, reads as follows :

(2.) In respect of the asst. yrs. 1959-60 to 1962-63 the assessee was assessed as an Individual for the purpose of Wealth-tax, though the contention of the assessee was that the assets on the respective valuation dates were liable to be assessed in the hands of the respective HUFs. These assessments were confirmed by the AAC, so far as the status was concerned, with which aspect alone, we are concerned in this Reference.

(3.) When the matter was taken to the Tribunal the Tribunal took the view that the correct status in which the assessment was made was that of HUF. Being aggrieved by this view, the following question has been referred at the instance of the Revenue.