1992 (11) TMI 7

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..... ) of the Wealth-tax Act, 1957, the Revenue seeks a direction to the Tribunal to refer the following two common questions of law, for the assessment years 1973-74 to 1986-87 : " 1. Whether the Appellate Tribunal was right in law in not considering the relevant material on record, namely, the assessee's letter dated January 10, 1987, and referred to in the assessment order dated February 10, 1987, .....

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..... Rs. 6,29,367 could not be included in the wealth of the assessee as an asset and the assessing authority was directed to delete the same from the assessable wealth for the assessment years in question. The Tribunal had found that the debt of Rs. 6,29,367 due to the assessee from the adopted son of the borrower, E. M. Gopalakrishna Kone, should not be included in the assessable wealth of the ass .....

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..... ad not taken into account the letter of the assessee dated January 10, 1987, we find that that letter related only to the debts other than the debt in question, and in view of that, the Tribunal had not referred to that letter at all in the course of its order. The omission to refer to this letter by the Tribunal in the course of its order certainly cannot give rise to a question of law on this as .....

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