COMMISSIONER OF INCOME TAX Vs. BIMLA VATI

JUDGEMENT

(1.) THE following two questions of law have been referred to this court by the Income-tax Tribunal, Amritsar, at the instance of the revenue:

(2.) THE assessment for the two years 1970-71 and 1971-72 was completed by the ITO on September 19, 1972, and the income assessed was "nil" for the first year and Rs. 6,493 for the second year. THE wealth-tax assessments were completed on September 20, 1972. THE wealth of the assessee consisted of deposits and one building at Maqbool Road, Amritsar, which was valued at Rs. 2,99,836, THE assessee had purchased the plot of land for Rs. 71,516 for this building on January 21, 1969, started the construction on February 1, 1969, and completed the same on March 30, 1971.

(3.) I agree.