9911796707
TMI Blog1994 (4) TMI 8X X X X Extracts X X X X X X X X Extracts X X X X ..... ome-tax Department, appeared on behalf of the applicant, but none appeared on behalf of the respondent. The brief facts of the case as stated in the statement of the case drawn up by the Tribunal are that for the assessment year 1979-80, the Wealth-tax Officer included in the net wealth of the respondent-assessee his interest as partner in the firm, Kaliapani T. E., after computing the same under rule 2 of the Wealth-tax Rules, 1957. The respondent-assessee challenged the order of assessment before the Appellate Assistant Commissioner contending that the exemption under section 5 of the Act had not been allowed in respect of his share in the properties in the firm. The Appellate Assistant Commissioner found that the computation of the inte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of law which is said to have arisen out of the aforesaid order : " Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in restoring the matter to the Wealth-tax Officer with the direction to decide the matter afresh keeping in view the decision of the Special Bench in the case of L. Gulabchand Jabak (1 SOT 613) when such decision of the Special Bench is not related to the subjectmatter of appeal constituted the grounds of appeal taken before the Tribunal ? " Having perused the order of the Wealth-tax Officer, the Appellate Assistant Commissioner and the Appellate Tribunal in W. T. A. No. 109/ (Gau) of 1986 which have been annexed to the statement of the case, we are of the view that the questio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he partners of the firm to the extent admissible under the proviso to section 5(1)(iv) of the Act in respect of their shares in the house properties standing in the name of the firm. Though a copy of the order of the Tribunal (Special Bench) in the case of L. Gulabchand Jabak (1 SOT 613) has not been annexed to the statement of the case, it appears that in the said case the Tribunal has allowed the claim of the assessee under section 5(1) of the Act in respect of the assessee's share in the immovable properties standing in the name of the firm consistent with the law as stated by this court in the aforesaid three decisions. Since the orders of the Wealth-tax Officer and the Appellate Assistant Commissioner in the present case were not in ac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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