COMMISSIONER OF WEALTH TAX Vs. KAMAL SAROJ

JUDGEMENT

(1.) The brief facts, relevant for disposal of the present case and emanating from the record are that the assessee was a partner in the firm M/s. Mahajan Overseas, which had made certain claims of cash incentive to the Central Government in the matter of Export Promotion Council. The Wealth-tax Officer included the amount equal to the assessee's share as her net wealth. However, the Appellate Assistant Commissioner of Income-tax ordered the exclusion of the aforesaid amount, vide order dated September 23, 1986 (annexure C). Aggrieved by the order (annexure C), the Revenue preferred the appeal before the Income-tax Appellate Tribunal, which was also dismissed, vide order dated August 21, 1987 (annexure D). The application of the Revenue for referring the matter to this Court was dismissed by the Tribunal, vide order dated January 19, 1988 (annexure A).

(2.) The Revenue did not feel satisfied with the impugned order (annexure A) and filed the instant case, which was admitted to consider the following question of law:

(3.) We have heard the learned Counsel for the parties and have gone through the record of this case with their valuable help.