Income Tax v. Dr.d.y.chandrachud, J

IN THE HIGH COURT OF JUDICATURE AT BOMBAYORDINARY ORIGINAL CIVIL JURISDICTION INCOME TAX REFERENCE NO. 70 OF 1994 The Commissioner of Income-tax,Bombay....ApplicantVs.Mrs.V.V.Shah...Respondent Mr. Suresh Kumar for the Applicant.None for the Respondent. CORAM:DR.D.Y.CHANDRACHUD ANDM.S.SANKLECHA, JJ. DATE : 30[th] March, 2012. P.C. 1.This Reference under Section 27(1) of the Wealth-tax Act, 1957 has been made in respect of the assessment year 1982-83. The Tribunal noted that it has relied upon its order for assessment year 1981-82 and that on an identical aspect of the matter, a reference was made to this Court for the earlier year. 2.The learned Counsel appearing on behalf of the Revenue has placed on record a copy of the order dated 1 August 2007 passed by a Division Bench of this Court in Income Tax Reference No.161 of 1995 (The Commissioner of 2 ITR-70-94 Income Tax vs. Smt. V.V.Shah) pertaining to the earlier assessment year 1981-82, where the reference was returned as unanswered since the tax effect was less than Rs.4 lakhs. The learned Counsel states that the same position would govern in respect of this Reference. Consequently, since we are informed by the learned Counsel that the tax effect is less than Rs.4 lakhs and following the earlier decision of this Court, the Reference is returned unanswered. (DR.D.Y.CHANDRACHUD, J.) (M.S.SANKLECHA,J.)