The Commissioner Of Wealth Tax v. M/S. Jagdanand Investment & Trading

((-1-)) HVN IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WEALTH TAX APPEAL NO. 391 OF 2004 The Commissioner of Wealth Tax ... Appellant Versus M/s. Jagdanand Investment & Trading Co.Ltd. ... Respondent Mr. P.S. Sahadevan for the Appellant. Mr. J.D.Mistry with Mr. Raj Darak for Respondent. CORAM: F.I.REBELLO&R.S. MOHITE, JJ.DATED: JANUARY 09, 2008 CORAM: F.I. R.S. MOHITE, JJ. DATED: JANUARY 09, 2008 P.C. P.C. . The question of law as framed is as under : "In the facts and circumstances of the case and in law, whether the rent and deposits received by the intermediary tenant from the ultimate user of the premises or the rent and deposit received by the assessee’s from the intermediary tenant, who never occupied the premises is to be taken for the computation of the Net Wealth of the assessee’s for valuation under rule 3 of part B of schedule III of the Wealth Tax Act 1947." ((-2-)) . The said issue has been answered in the judgment of this court dated 22.10.2007 in W.T.A. No. 313 of 2003 in Commissioner of Wealth Tax Vs. Akshya Textiles Trading & Agencies Pvt. Ltd.. In the light of the above, question as framed would not arise. Accordingly appeal dismissed. (F.I.REBELLO, J.) (R.S. MOHITE, J.)(F.I.REBELLO, J.) (R.S. MOHITE, J.) (F.I.REBELLO, J.) (R.S. MOHITE, J.)