COMMISSIONER OF WEALTH TAX Vs. UGAR SINGH

JUDGEMENT

(1.) THIS application has been moved under Section 27(3) of the Wealth-tax Act, 1957, whereby the Revenue has prayed for directing the Income-tax Appellate Tribunal to refer the two questions mentioned in para 6 of the application for consideration of this court. Mr. Singhal, learned counsel for the Revenue, has submitted that the questions which have been raised are already under consideration in other matters in which this court has directed the Tribunal to make a reference and, therefore, in the present case also, reference should be called for in respect of these questions.

(2.) MR. Ranka, learned counsel for the assessee has, on the other hand, pointed out that, as regards the first question, the total amount which was added by the Wealth-tax Officer under Rule 2B(2) of the Wealth-tax Rules was Rs. 1,11,813 and the tax liability in respect of the above is only to the extent of Rs. 1,100. The submission of MR. Ranka is that the amount of tax is too insignificant to require consideration by this court. Having considered the aforesaid submissions of learned counsel, we are of the view that taking into consideration that the amount of tax liability, which would be affected by a decision of question No. 1 is to the tune of Rs. 1,100 only, we do not consider the said question is such as to require consideration by this court in the present case specially when the said question is already under consideration before this court in other cases and the principles laid down by this court in that regard would govern other similar cases including the assessment of the assessee.