2001 (2) TMI 15 - SCH - Wealth-tax

Official residence in occupation of ex-ruler claiming exemption in relation to value of entire property - Whether including in particular the fact that part of the official residence of the ex-Ruler of Ratlam who is the assessee respondent stood let out the Tribunal is justified in law in holding that the assessee is entitled to exemption of the value of the said property in its entirety under section 5(1)(iii) - question of law - fit question for reference

Summary

The Supreme Court ordered the Tribunal to refer a question regarding exemption under the Wealth-tax Act to the High Court, as a question of law arose. The High Court had earlier declined to call for a reference, but the Supreme Court directed the Tribunal to refer the question after setting aside the previous order. The respondent did not appear, and no costs were awarded.