COMMISSIONER OF INCOME TAX Vs. PRAKASH KUMAR MOHTA

JUDGEMENT

(1.) THE following question of law has been referred to this Court by the Tribunal under s. 27(1) of the WT Act :

(2.) THE reference relates to the asst. yr. 1973-74. THE dispute is about the incredibility of 300 shares gifted to an HUF comprising of the assessee and his wife in the assessee's net wealth for the purpose of WT assessment.

(3.) IN that view of matter, the question is answered in the affirmative and in favour of the assessee.