COMMISSIONER OF WEALTH TAX Vs. CHANDRASEKHARA RAO B

JUDGEMENT

(1.) The assessees in these two references, B. Chandrasekhara Rao and B. Sadasiva Rao, are both minors. The two are the partners of Tajmahal Hotel, a firm which runs hotels in the twin cities of Hyderabad and Secunderabad. The subject-matter of these two references relates to the wealth-tax assessment year 1975-76. The net wealth under the Act of these two assesses has been determined at Rs. 1,63,145 each. Similar contentions are raised in the two cases that the two assessees are each entitled to a deduction of Rs. 1,00,000 from the value of the interest in the immovable properties of the two individuals. The contention was rejected by the original authority as well as the appellate authority in similar terms.

(2.) The Appellate Tribunal allowed the appeal following its earlier decision in W.T.A. No. 392/Hyd/1981, dated February 23, 1982. It is in these circumstances that the Revenue sought a reference of the following two questions for the opinion of this court :

(3.) The Appellate Tribunal, however, considered that one question may be referred covering the same subject-matter in the two cases, viz., "whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in directing the Wealth-tax Officer to grant exemption under section 5(1)(iv) separately for each minor."