1997 (11) TMI 16

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..... ncome-tax Appellate Tribunal, Madras Bench "D", has stated a case and referred the following question of law for the assessment year 1979-80 under section 27(1) of the Wealth-tax Act, 1957, for our consideration : "1. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the capital of the Baby Sitalakshmi Trust should not be included .....

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..... wealth of the assessee. The assessee preferred an appeal before the Commissioner of Wealth-tax (Appeals), who held that part of the trust cannot be included as net wealth of the assessee for the reason that the assessee was entitled only to contingent interest. The appeal filed before the Appellate Tribunal has also failed on the same reasoning. The Revenue challenged the finding of the Appel .....

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