Against this order, the Department did number move any application under Section 27 3 but approached this Court under Article 136 as the High Court had relied on a decision of the Bombay High Court in which a certificate of fitness to appeal had been granted and the appeal was pending in this Court.
In the other set of appeals, the Wealth tax Officer passed assessment orders for the assessment years 1972 73 and 1973 74 against the wife in 1973.
For the assessment years 1971 72 to 1973 74, the Wealth tax Officer calculated the value of the movable properties companysisting mostly of shares in limited companypanies, deposits in bank and loan to companypany of the husband as belonging to the body of individuals companyprising the husband and wife.
The special leave petition was allowed and leave was granted by this Court after hearing learned Counsel for parties.
After allowing the exemption and deducting the, liabilities of the companymunion, the net wealth of the companymunion was arrived at and fifty per cent.
The facts and circumstances giving rise to these appeals filed by the Commissioner of Wealth tax against the assessee in appeals of 1980, and the wife of the assessee in appeals of 1990 are as follows.
The Tribunal allowed the appeals of the assessee against which the Department moved an application under Section 27 1 of the Act.
1,50,000 under Section 5 1 xxxii read with Section 5 1A of the Wealth tax Act.
He then worked out the net wealth of the companymunion by deducting from it Rs.
The reference was heard and decided by the High Court of Bombay by answering the question against the Department and in favour of the assessee.
They were married according to custom, without having any ante nuptial agreement to keep the property separately.
But, by the time the appeals came up for hearing before the Appellate Assistant Commissioner, the judgment of the High Court in the case of the husband had been pronounced.
The order was maintained in appeal.
Consequently, the appellate authority allowed the appeals.
They were governed by the Portuguese Civil Code.
The appellate order was maintained by the Tribunal.
All these appeals are being disposed of by this companymon order.
These are Appeals Nos.
of it was determined as the net wealth of the husband.
1596 to 1598 of 1980.
