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TMI Blog1996 (1) TMI 79X X X X Extracts X X X X X X X X Extracts X X X X ..... l was justified in holding that section 5(1)(viii) of the Wealth-tax Act, 1957, would be applicable to the assessee's case for the assessment years 1966-67 to 1970-71 ? " Briefly stated, the facts of the case are that the value of certain gold ornament/silver ornaments weighing 20.200 kgs. was included by the Wealth-tax Officer in the computation of wealth of the assessee. The assessee filed an appeal before the Commissioner of Wealth-tax (Appeals). The appellate authority held that the gold ornament/silver ornaments weighing 20.200 kgs. belonged to three ladies, namely, Birsubai, Laxmibai and Chandrabai, and as such they were intended for personal or household use within the meaning of section 5(1)(viii) of the Wealth-tax Act, 1957. He, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssee, in all these cases. Shri Vyas submitted that the decision of this court has since been overruled by the apex court by a decision rendered in CWT v. Smt. Binapani Chahravarty [1995] 214 ITR 721 and as such the question as proposed is a question of law and is required to be referred by the Tribunal. According to Shri Vyas, the Tribunal was not justified in holding that section 5(1)(viii) of the Wealth-tax Act, 1957, would be applicable to the assessee's case for the assessment years 1966-67 to 1970-71. Shri Goyal, on the other hand, submitted that even when it is held, on following the decision of Smt. Binapani's case [1995] 214 ITR 721 (SC), that section 5(1)(viii) of the Act is not attracted to the case of the assessee for the ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is not oppugned by Shri Goyal. This court is not required to touch the point not placed before the Tribunal and is not to opine where "silence" is gold. The object beyond reference is to seek "opinion" so that legal question receives the answer and parties to the lis obtain justice in conformity with the answer. Justice is the eventual destination of the litigation. Lord Mansfield in Rex v. Wilkes elegantly exhorted that "Fiat justitia ruat coelum". (Let justice be done, though the heavens fall). Luculently there ought not to be a contest on academic basis alone yielding no result in the cases on hand. We, therefore, issue direction but with liberty to the Tribunal to examine the point and purpose in the light of submissions urged befo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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