1989 (2) TMI 14 - HC - Wealth-tax

Summary

The High Court of Madras dismissed the Revenue's request to refer a question of law regarding the applicability of amended provisions of section 20A of the Wealth-tax Act to partitions made in 1979 for the assessment year 1979-80. The court held that the amended provisions of section 20A were not applicable to the assessment year 1979-80 based on a Circular of the Central Board of Direct Taxes. The Tribunal was correct in its decision, and no referable question of law arose from the case. The petitions were dismissed with no costs.