The High Court, hearing a wealth tax reference, observed that the tax effect was less than Rs. 4 lakhs and noting the appellant did not press the reference based on the CBDT Circular, returned the reference as unanswered.
Reference returned as unanswered and disposed of.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
SAS
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
WEALTH TAX REFERENCE NO.32 OF 1995
The Commissioner of Wealth Tax ..Applicant.
V/s.
Shri Rajendrakumar Tuli ..Respondent.
Mr.P.S.Sahadevan for applicant.
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
Shri Rajendrakumar Tuli
F.I. Rebello
J.P. Devadhar
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court