COMMISSIONER OF WEALTH TAX Vs. KUM KUM BAGARIA

JUDGEMENT

(1.) THIS is a reference under section 27(1) of the Wealth -tax Act, 1957 ('the Act'). The following question has been referred at the instance of the department:

(2.) HEARD Mr. D.K. Talukdar, the learned standing counsel appearing on behalf of the appellant and Mr. R.K. Joshi, the learned counsel appearing on behalf of the assessee. It is stated at the Bar that this case is squarely covered by a decision of this Court in CWT v. Ramgopal Mahesh Kumar (HUF) : [1993] 203 ITR 621. In the said decision this Court held thus: