The High Court returned the reference as unanswered because the tax effect was less than Rs. 4 lakhs, leaving the question of law open for future consideration.
Reference returned as unanswered; question of law left open.
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SAS
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
WEALTH TAX REFERENCE NO.10 OF 1995
The Commissioner of Wealth Tax ..Applicant.
V/s.
M/s.Bakhtawar Construction Co. Pvt.Ltd. ..Respondent.
Mr.B.M.Chatterji with Mrs.P.P.Bhosale for applicant.
Mr.Atul Jasani for respondent.
CORAM : F.I.REBELLO AND
J.P.DEVADHAR, JJ.
DATED : 10TH OCTOBER, 2007.
P.C. :-
As the tax effect is less than Rs.4 lakhs
and considering the CBDT Circular, learned counsel for
the appellant does not press the reference.
2. In that light of that reference is returned
as unanswered. The question of law, if any, is left
open for consideration in an appropriate case.
3. Reference disposed of accordingly.
(F.I.REBELL0, J.)
(J.P.DEVADHAR, J.)
The Commissioner of Wealth Tax
M/s. Bakhtawar Construction Co. Pvt. Ltd.
F. I. Rebello
J. P. Devadhar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court