1990 (6) TMI 12

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..... nal has referred the following question of law for the decision of this court : "Whether, on the facts and in the circumstances of the case, the proceedings under section 35 of the Wealth-tax Act, 1957, were valid in law ? The respondent is the Revenue. We are concerned with the assessment years 1974-75 and 1975-76. For wealth-tax purposes, the relevant valuation dates are March 31, 1974, and .....

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..... by the Income-tax Appellate Tribunal. We heard counsel. It was argued that the sum of Rs. 1 lakh to be paid to the assessee after the expiry of five years as per the will of Mr. M. K. Jinachandran will be an asset, if at all, only on or after January 30, 1975, and so the said sum could not have been included for the purpose of wealth-tax assessment on the valuation date, March 31, 1974. It was f .....

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..... finding of the Appellate Tribunal that there is a mistake apparent from the records, the proceedings under section 35 of the Wealth-tax Act, 1957, were valid in law ?" In so far as the finding of fact made by the Appellate Tribunal that there is a mistake apparent from the records is not challenged, the only further question is whether, on the findings recorded, the conclusion of the Appellate Tri .....

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