COMMISSIONER OF WEALTH TAX Vs. GOPI CHAND RAWAT

JUDGEMENT

(1.) THIS reference under Section 27(1) of the Wealth-tax Act, 1957, at the instance of the Revenue, is to answer the following questions of law, namely:

(2.) WHETHER, on the facts and in the circumstances of the case, the Tribunal was right in holding that Messrs. Maliram Pooranmal is an industrial undertaking within the meaning of Section 5(1)(xxxii) and subsequently in holding that the value of the assessee's interest in the firm is exempt under Section 5(1)(xxxii) of the Wealth-tax Act ?"