BADREENARAYANAMOORTI RAJU V Vs. COMMISSIONER OF WEALTH TAX

JUDGEMENT

(1.) FOUR questions have been referred by the Tribunal for the opinion of this Court under S. 27(1) of the WT Act, 1957. They are :

(2.) MR . P.V.B. Rao for the petitioner does not press the first three questions. It is, therefore, not necessary to give answers on these questions.

(3.) THE question for consideration is whether the amount so claimed can be deducted from the net wealth. Sec. 2(m)(ii) of the WT Act runs thus :