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TMI Blog2017 (1) TMI 1366X X X X Extracts X X X X X X X X Extracts X X X X ..... 17 - Hon'ble Sudhir Agarwal And Hon'ble Ravindra Nath Mishra-II, JJ. For the Petitioner : D.D. Chopra, Manish Misra ORDER 1. Heard Sri Manish Misra, learned counsel for appellant and perused the record. 2. This is a wealth tax appeal filed under Section 27(A) of Wealth Tax Act, 1956 (hereinafter referred to as the Act, 1956 ) arisen from judgment and order dated 25.06.1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ein following earlier judgment in Commissioner of Wealth Tax Vs. Rakesh Mohan, 2007(289) ITR 308 (All), Court answered similar question in favour of Assessee and against Revenue. The judgment in Commissioner of Income Tax Vs. Comilla Mohan (supra), reads as under: 1. The Income-tax Appellate Tribunal, Allahabad Bench, Allahabad, has referred the following two questions of law under Section 25 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8, 1978-79 and 1979-80. 3. Briefly stated the facts giving rise to the present reference are as follows: 4. Smt. Comilla Mohan created two trusts known as first son of Vinay Mohan and the first son of Hemant Mohan dated February 18, 1973, and May 22, 1973, respectively, by transferring 60,000 equity shares of Mohan Meakin Ltd. As per the Department's stand, these two trusts were not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ppeals before the Tribunal for the assessment years under consideration and took the plea that the Department's reference applications having been allowed by the Income-tax Appellate Tribunal in R.A. No. 441/(Alld.) of 1987 dated February 26,1988, the matter is still sub judice before the Allahabad High Court. The Tribunal, however, dismissed the Department's appeals for the assessment yea ..... X X X X Extracts X X X X X X X X Extracts X X X X
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