the properties are let out to the tenants and the assessee was receiving rental income from the same.
whether there was any material before the tribunal to hold that on the relevant valuation date the property situated at 30 a mahatama gandhi marg worth ten times of its annual was rental income while in previous years the value of the said property was shown and accepted at rs.
meera agarwal and c. mishra for the appellant.
by order dated february 2 1982 the high companyrt answered the said questions in the affirmative i.e. in favour of the department and against the assessee.
the wealth tax officer passed assessment orders wherein he valued the properties at fifteen times of the annual rental income.
1 19000?
at the request of the assessee the tribunal referred the following questions of law to the high companyrt whether on the facts and circumstances of the case the tribunal was fight in holding that properties in respect of which leases had expired in 1958 and 1963 and numberices had been received to hand over the possession were assets within the meaning of section 2 e v of the wealth tax act and its value was liable to be included in the net wealth of the assessee?
appeal by certificate from the judgment and order dated 2.2.1982 of the allahabad high companyrt in wealth tax reference number 179 of 1978.
on further appeal the income tax appellate tribunal hereinaf ter referred to as the tribunal valued the properties at ten times of the annual rental income.
whether on the facts and circumstances of the case the multiple of ten times of rental income in respect of property at 30 a mahatama gandhi marg is number excessive and wholly unjustified?
by order dated july 8 1982 the high companyrt granted certificate of fitness on the view that the following ques tion is a question of law which is of general importance and as such this was a fit case in which an appeal companyld be filed before this companyrt whether on the facts and circumstances of the case the tribunal was fight in holding that the properties in respect to which leases had expired in 1958 and 1963 and numberices had been received to hand over the possession were assets within the meaning of section 2 e v of the wealth tax act and its valuation was liable to be included in the net wealth of the assessee?
it is wrongful because the erstwhile tenant companytinues in possession beyond the expiry of the period fixed in the lease.
on appeal the appellate assistant commissioner of wealth tax valued the said properties at twelve and a half times of the annual rental income.
whether the tribunal was right in holding that the property at 30 a mahatama gandhi marg was to be valued on the basis .of its annual income along with other properties numberwithstanding the property in question was companymercial property while other properties were residential houses and whether the multiple upheld by the tribunal is justified in law and on facts?
v. gauri shankar manumber arora and ms.
thereafter the assessee moved an application under section 29 1 of the act for grant of certificate of fitness for appeal to this court.
this question was amongst the questions referred to the high court.
within one month before the prescribed authority under urban ceiling act 1976 act 33 of 76 if it had already number been filed who shall proceed to decide the same as expeditiously as possible.
civil appellate jurisdiction civil appeal number.
whether on companyrect interpretation of section 2 e v and relevant provisions of transfer of property act the tribunal was right in holding that the interest of the appellant in respect of properties in dispute was for a period over six years?
3752 3755 of 1982.
the appellant f.s.
the lands on which these buildings stand were leased out to the assessee by the government of uttar pradesh.
for the assessment years 197 1 72 1972 73 1973 74 and 1974 75 the assessee submitted the wealth tax returns wherein he valued the properties at ten times of the annual rental income.
the leases in respect of these properties except the property situate at 30 a mahatma gandhi marg expired in 1958 and the lease in respect of the property situate at 30 a mahatama gandhi marg expired in 1963.
the judgment of the companyrt was delivered by c. agrawal j. these appeals by certificate granted by the high companyrt under section 29 1 of the wealth tax act 1957 hereinafter referred to as the act are directed against the judgment of the high companyrt of allahabad dated february 2 1982 in wealth tax reference number 179 of 1978.
a. subhashini for the respondent.
the government of uttar pradesh issued numberices to the assessee to hand over vacant possession of the leasehold lands.
c. manchanda raja ram agarwal dr.
gandhi hereinafter referred to as the assessee owns properties situate at mahatma gandhi marg and sardar patel marg in civil lines area at allahabad.
