Cwt Vs. Brig. Kapil Mohan

Cwt vs Brig. Kapil Mohan

Type Court Judgment Court Delhi Decided May 31, 2001

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Citation: sooperkanoon.com/710177
Court: Delhi High Court
Decided On: May 31, 2001
Case Number: WT Reference No. 117 of 1987 31 May 2001
Subject: Direct Taxation

Case Summary

AI-generated summary - not the official court judgment text.

In the Delhi High Court Arijit Pasayat, C.J. & D.K. Jain, J. -

Key legal issue: Direct Taxation

Parties & Advocates

Appellant / Petitioner

Cwt

Advocate R.C. Pandey an; Ms. Prem Lata Bansal, for the Revenu

Respondent

Brig. Kapil Mohan

Legal References

Reported In: [2001]119TAXMAN475(Delhi)

Excerpt

in the delhi high court arijit pasayat, c.j. & d.k. jain, j. - heard the learned counsel for the revenue.2. at the instance of the revenue, following question has been referred under section 27(1) of the wealth tax act, 1957 income tax act for opinion of this court :'whether, the tribunal was correct in law and on facts in holding that the value of 63,676 shares of mohan meakins breweries ltd. is not includible in the net wealth of the assessed for the assessment year 1981-82 under the provisions of section 4(1a) of the wealth tax act, 1957?'the dispute relates to the assessment year 1981-82.3. we had occasion to deal with the similar question in cwt/cit v. lt. col. kapil mohan (wt reference no. 275 of 1983 and it reference no. 314 of 1980). in view of the judgment in the said case, we direct that the modalities to be adopted in terms of that judgment will also be applicable to the present case.4. this reference is disposed of accordingly.

Full Judgment

Heard the learned counsel for the revenue.

2. At the instance of the revenue, following question has been referred under section 27(1) of the Wealth Tax Act, 1957 Income Tax Act for opinion of this court :

'Whether, the Tribunal was correct in law and on facts in holding that the value of 63,676 shares of Mohan Meakins Breweries Ltd. is not includible in the net wealth of the assessed for the assessment year 1981-82 under the provisions of section 4(1A) of the Wealth Tax Act, 1957?'

The dispute relates to the assessment year 1981-82.

3. We had occasion to deal with the similar question in CWT/CIT v. Lt. Col. Kapil Mohan (WT Reference No. 275 of 1983 and IT Reference No. 314 of 1980). In view of the judgment in the said case, we direct that the modalities to be adopted in terms of that judgment will also be applicable to the present case.

4. This reference is disposed of accordingly.

Same Court & Year Delhi · 2001 Same Parties Cwt vs Brig. Kapil Mohan Same Subject Direct Taxation

Direct Taxation