9911796707
TMI Blog1993 (2) TMI 57X X X X Extracts X X X X X X X X Extracts X X X X ..... er herein. The matter arises under the Wealth-tax Act, 1957. The respondent is an assessee to wealth-tax. We are concerned with the assessment year 1979-80. The assessee was a partner in a firm, Messrs. M. M. Corporation. The firm owns a house at Bangalore. While valuing the interest of the assessee in the firm, the claim of the assessee for exemption under section 5(1)(iv) was negatived by the We ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on under section 5(1)(iv) of the Wealth-tax Act in respect of his share in the building owned by the firm ?" The Appellate Tribunal dismissed the application. It is thereafter that the Revenue has filed this petition under section 27(3) of the Wealth-tax Act, praying that this court may be pleased to direct the Appellate Tribunal to refer the question of law formulated hereinabove for the decisi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... his court, which only applied the principles laid down by the Supreme Court, and the conclusion of the Appellate Tribunal is in accord with the aforesaid decision of the Full Bench, we are of the view that no referable question of law arises for the decision of this court. We, accordingly, decline to direct the Appellate Tribunal to refer the question of law formulated hereinabove for the decision ..... X X X X Extracts X X X X X X X X Extracts X X X X
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