SHARMISTHABAI HOLKAR Vs. COMMISSIONER OF WEALTH TAX

JUDGEMENT

(1.) BY this reference under s. 27 (1) of the WT Act, 1957 (hereinafter referred to as `the Act'), the Tribunal, Indore Bench has referred the following question of law to this Court for its opinion:

(2.) THE material facts giving rise to this reference, briefly, are as follows : For the asst. yr. 1970-71, the assessee was assessed to tax under the Act by the WTO. THE assessment was, however, reopened by the WTO on 25th March, 1975, recording his reasons as follows :