COMMISSIONER OF WEALTH TAX Vs. SARDAR HARNAM SINGH

JUDGEMENT

(1.) ON an application under Section 27(1) of the Wealth-tax Act, 1957, the Tribunal has referred the following question for our opinion :

(2.) THE relevant assessment years are 1973-74 and 1974-75. THE case of the assessee is that he had bona fide belief that he did not have deductible wealth, therefore, he could not file the return on the higher value of the assets and also disallowing some liabilities. He had belief that those liabilities are deductible for the purpose of the wealth-tax, therefore, he could not file this return in time. THE Tribunal has discussed this in its order. THE relevant facts to the issue which have been reproduced in the statement of the case read as under.