COMMISSIONER OF WEALTH TAX vs. AMBER SARAV TRUST

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WTR/221/1996HC GujaratGJHC24022151199629 January 1998Author: HONOURABLE MR. JUSTICE R.K.ABICHANDANI,HONOURABLE MR. JUSTICE ANIL R. DAVE2 pages
AI SummaryAllowed

What did the High Court hold?

The High Court answered the question referred to it in the affirmative, in favour of the assessee and against the Revenue. This decision is based on the reasoning provided in their judgment and order delivered in Wealth Tax Reference No. 43/93 on the same day. The operative direction is that the reference stands disposed of accordingly. The principle established is that the Wealth Tax should be levied at the normal rate on the assessee trust, as per the direction of the appellate Tribunal. No issue was expressly left undecided.

What were the facts?

This case involves a Wealth Tax Reference No. 221 of 1996 before the High Court of Gujarat at Ahmedabad. The reference was made by the Income Tax Appellate Tribunal, Ahmedabad, for the opinion of the High Court on a specific question of law. The assessee is Amber Sarav Trust, and the revenue is the Commissioner of Wealth Tax. The judgment states that the facts are similar to another case, Wealth Tax Reference No. 43/93, decided on the same day. Therefore, the specific facts of this case are not reproduced in the judgment.

What were the issues?

1. Whether the appellate Tribunal is right in law and on facts in directing the Assessing Officer to levy the tax on the assessee trust at the normal rate? The Revenue's contention is not recorded in the judgment. The Assessee's contention is not recorded in the judgment. The judgment refers to a similar question answered in Wealth Tax Reference No. 43/93, implying that the arguments in that case are relevant here.

Which sections of the Income-tax Act were involved?

Section 27(1)

AI-generated summary — verify with the full judgment below

IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

WEALTH TAX REFERENCE No 221 of 1996

For Approval and Signature:

Hon'ble MR.JUSTICE R.K.ABICHANDANI and MR.JUSTICE A.R.DAVE ============================================================ 1. Whether Reporters of Local Papers may be allowed to see the judgements?

2.

To be referred to the Reporter or not?

3.

Whether Their Lordships wish to see the fair copy of the judgement?

4.

Whether this case involves a substantial question of law as to the interpretation of the Constitution of India, 1950 of any Order made thereunder?

5.

Whether it is to be circulated to the Civil Judge?

-------------------------------------------------------------- COMMISSIONER OF WEALTH TAX Versus AMBER SARAV TRUST --------------------------------------------------------------

Appearance: B.B.NAYAK with MR MANISH R BHATT for Petitioner Respondent served

--------------------------------------------------------------

CORAM : MR.JUSTICE R.K.ABICHANDANI and MR.JUSTICE A.R.DAVE Date of decision: 29/01/98

ORAL JUDGEMENT (Per R.K.Abichandani,J.)

The Income Tax Appellate Tribunal, Ahmedabad has referred for the opinion of this Court the following question under Section 27(1) of the Wealth Tax Act, 1957. "Whether the appellate Tribunal is right in law and on facts in directing the Assessing Officer to levy the tax on the assessee trust at the normal rate?"

A similar question has been answered by us today in Wealth Tax Reference No. 43/93. Since the facts are similar and the question involved almost identical, we do not find it necessary to reproduce the facts of this case. For the reasons given by us in our judgement and order delivered in Wealth Tax Reference No. 43/93 today, we answer the question referred to us in the affirmative in favour of the assessee and against the Revenue. The reference stands disposed of accordingly with no order as to costs.

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*/Mohandas

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