Both the appeals were filed, therefore, after the respective valuation dates, March 31, 1961 and March 31, 1962 companyresponding to the assessment years 1961 62 and 1962 63 1 1966 59 I.T.R. 767.
The Revenue appealed to the Appellate Tribunal.
3, 4, 20, 25, 29, 32, 32 36 of 1970 and 1 of 1971.
From the Judgment and Order dated 26/27.6.1972 of the Gujarat High Court at Ahmedabad in Wealth Tax Reference Nos.
9,02,377 companyprising a deduction of Rs 39,692 on account of wealth tax relating to the assessment year 1961 62, Rs.
S G. Manchanda, B.B. Ahuja, R.N. Poddar and Miss A. Shubhashini for the Appellant.
CIVIL APPELLATE JURISDICTION Civil Appeals NOS.
On appeal by the assessee the Appellate Assistant Commissioner of Wealth Tax allowed a part of the claim.
1311 and, 1312 of 1973.
In the appeal pertaining to the assessment year 1961 62, he allowed a deduction of Rs.
T. Desai Mrs. A.K. Verma and K.J. John for the Respondents.
J. These appeals are directed against the judgment of the Gujarat High Court disposing of a wealth tax reference and answering the following question of law against the Revenue Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that the provisions of S. 2 m iii a were number applicable in respect of liabili ties arising under the wealth tax assessments of the asses see for the assessment years 1960 61 and 1961 62 For the purpose of determining the assessees net wealth in assessment proceedings under the Wealth Tax Act in respect of the assessment years 1961 62 and 1962 63, the companyresponding valuation dates being March 31, 1961 and March 31, 1962, the assessee claimed a deduction of certain sums representing the estimated liabilities on account of income tax and wealth tax.
2,25,053 on account of income tax for the assessment year 1961 62.
The Judgment of the Court was delivered by PATHAK.
22,679 on account of wealth tax relating to the assessment year 1960 61, Rs.39,692 on account of wealth tax relating to the assessment year 1961 62 and Rs.
In the appeal pertaining to the assessment year 1962 63, the Appellate Assistant Commissioner allowed the total claim of Rs.
The claim was rejected by the Wealth Tax Officer in both assessments.
77,716 on account of wealth tax for the assessment year 1962 63 and the balance on account of income tax for the assessment year 1962 63.
