COMMISSIONER OF WEALTH TAX Vs. PUSHPA GARG

JUDGEMENT

(1.) THESE reference cases are heard as connected matter and are being disposed of by this common order.

(2.) BRIEFLY stated, the facts are as under:- (a) Income-tax reference no. 22 of 1995: At the instance of the CWT, Bhopal, the Tribunal stated the case and referred the undernoted question under S. 27 (1) of the WT Act, 1957 ('the Act) on application registereds as R.A. Nos. 31 to 33 (Indore) of 1994 for the asst. yrs. 1985-86 to 1987-88 arising out of the order dt. 25th Oct., 1993 rendered by the Tribunal in WT Appeal Nos. 44,48 and 49 (Indore) of 1992, for our opinion:

(3.) THE counsel for the parties are one on the point that basic question in the first four reference cases is whether or not the lease agreement in question is genuine and other questions, as proposed in each case, are consequental to the conclusion on this basic question. They also submitted that exigibility or otherwise of gift-tax is also dependent on the answer to the aforesaid basic question.