1989 (10) TMI 22 - HC - Wealth-tax

Summary

The High Court of Rajasthan dismissed an application under section 27(3) of the Wealth Tax Act, 1957, for reference to the Income Tax Appellate Tribunal. The court found the first question insignificant due to a tax liability of only Rs. 1,100. However, the court directed the Tribunal to refer the second question regarding the classification of a firm as an industrial undertaking under section 5(1)(xxxii) of the Wealth Tax Act for consideration.