1988 (5) TMI 20

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... se out of the Tribunal's order. The Commissioner had applied to the Tribunal for referring these questions of law arising out of the Tribunal's order under section 27(3) of the Act. These questions relate to the applicability of rule 2B(2) of the Wealth-tax Rules, 1957, and exemption claimed by the assessee under section 5(1)(xxxii) of the Wealth-tax Act, 1957. The Tribunal has declined to refer a .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 's order. Accordingly, refusal by the Tribunal to refer this question is justified. The remaining question is with regard to the exemption claimed under section 5(1)(xxxii) read with the Explanation to section 5(1)(xxxi) of the Wealth-tax Act, 1957. In our opinion, a question of law does arise in the present case in this behalf, inasmuch as it involves construction of certain statutory provision .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X