COMMISSIONER OF WEALTH TAX Vs. DANKA DEVI AGARWALA

JUDGEMENT

(1.) This is a wealth-tax matter and the question referred to us is as follows :

(2.) In the relevant assessment year, the assessee had sold several flats at 13, Camac Street, Calcutta. The sale was, however, not completed by execution and registration of deeds of conveyance.

(3.) In the wealth-tax return, the assessee accounted for the entire sale proceeds which was slightly above Rs. 56,00,000 and also one per cent, of the said amount was added by way of assessment as representing the value of the legal title which still remained in the assessee.