COMMISSIONER OF WEALTH TAX Vs. SUSHILADEVI

JUDGEMENT

(1.) AT the instance of the Commissioner of Wealth-tax, Bhopal, the Tribunal has stated the case and referred the undernoted question of law, on application presented under Section 27(1) of the Wealth-tax Act, 1957 (for short "the Act"), and registered as RA No. 46/Ind. of 1995 arising out of the order dated January 16, 1995, passed by it in WTA No. 30/Ind. of 1991 for the assessment year 1986-87, for our opinion :

(2.) THE facts lie in a narrow compass.

(3.) COUNSEL for the applicant supported the reference and submitted that the question may be answered in favour of the Department. COUNSEL for the non-applicant, however, submitted that the Tribunal rightly appreciated the facts and correctly applied the provisions of law stated in Philip John Plasket Thomas v. CIT [1963] 49 ITR (SC) 97 and in Harpyari Devi Garg v. WTO [1982] 1 ITD 241 (MP). He, therefore, submitted that in view of the settled position of law, there was no justification to state the case and refer the question. He submits that the aforesaid question merits to be answered in favour of the assessee.