TMI Blog1990 (4) TMI 18X X X X Extracts X X X X X X X X Extracts X X X X ..... ns for the opinion of this court : "1. Whether the Tribunal was legally correct in holding that the business activities carried on by Shri Ashok Kumar Baranwal and Smt. Kamla Devi represented the activities of the assessee-Hindu undivided family ? 2. Whether the Tribunal was legally correct in upholding the inclusions of investments in the business activities that had admittedly been carried o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ial to hold that Shri Hira Lal Baranwal was the karta of the assessee-Hindu undivided family and as on the valuation date was possessed of any wealth which was liable to be included in the net wealth of the assessee-Hindu undivided family ? 6. Whether there was any material to hold that the additions of Rs. 1,99,500 on account of alleged unexplained investment in the business in the name of Sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ustoms department in 1973 ; (valued at Rs. 71,571 in 1973) as were found and recovered at the time of search operations in 1973 and the same were includible in its 'net wealth' ? 8. Whether irrespective of the findings with regard to the ownership of : (a) Rs. 5,42,352 representing the cash seized at the time of search operations ; (b) Rs. 98,142 representing the value of gold ornaments ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tory deduction under section 5(1)(iv) with regard to the residential house ?" So far as questions Nos. 7 and 8 are concerned, they indeed form but one question and the Tribunal has referred the same for opinion to this court So far as questions Nos. 1 to 6 are concerned, identical questions were asked to be referred by the assessee for the previous assessment year but was declined. A petition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cannot be directed to be referred. So far questions Nos. 9 and 10 are concerned, the Tribunal has clarified that since the matter has been remanded to the Wealth-tax Officer on the question of valuation, the assessee, may, if so advised, raise the said aspects before the officer. In view of this clarification, there is no occasion to direct the said questions to be stated. The wealth-tax appli ..... X X X X Extracts X X X X X X X X Extracts X X X X
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