COMMISSIONER OF WEALTH TAX Vs. BHASKAR MITTER

JUDGEMENT

(1.) IN this reference under Section 27(1) of the Wealth-tax Act, 1957, for the assessment years 1972-73 to 1975-76, the following questions of law have been referred to this court :

(2.) SHORTLY stated, the facts are that the assessee, an individual, held Government securities on the respective valuation dates as follows :

(3.) AT the hearing before us, Mr. Bagchi for the Revenue fairly submitted that the trend of the judicial decisions are against the contentions raised by the Revenue before the Tribunal. Since none appeared for the assessee, at our request, Mr. Ranen Dutta, learned advocate, assisted the court and brought to our attention several decisions on the controversies involved in this reference.