LAWS(MPH)-1995-12-38

PRABHASHCHANDRA JHA Vs. COMMISSIONER OF WEALTH TAX

Decided On December 18, 1995
PRABHASHCHANDRA JHA, SHARADCHANDRA JHA AND SATISHCHANDRA JHA Appellant
V/S
COMMISSIONER OF WEALTH-TAX Respondents

JUDGEMENT

(1.) THESE applications are filed by the unsuccessful assesses (three brothers) under Section 27(3) of the Wealth-tax Act, 1957.

(2.) THE aforesaid reference applications, twelve in number, involve common questions of fact and law and accordingly are heard analogously and disposed of by this common order.

(3.) THE matter is without a conundrum. Tersely stated, the questions are whether the property, inherited from the father, was thrown into the common stock of the family before December 31, 1969, and was treated as such and whether the contrary finding of the Tribunal is perverse and vitiated. Reference to the decision of the High Court of Gujarat and dependence on Circular No. 1269 dated February 28, 1970, can be dealt with point-wise.