2010 (3) TMI 451

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.... judgment of the court was delivered by Ashutosh Mohunta J.- The brief facts, relevant for disposal of the present case and emanating from the record are that the assessee was a partner in the firm M/s. Mahajan Overseas, which had made certain claims of cash incentive to the Central Government in the matter of Export Promotion Council. The Wealth-tax Officer included the amount equal to the ass....

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....e assessee's share in cash incentive amounting to Rs. 32,875 due to the firm M/s. Mahajan Overseas, Panipat from Central Government Handloom Export Promotion Council was not liable to wealth-tax ?" 3. We have heard the learned counsel for the parties and have gone through the record of this case with their valuable help. 4. The short question that arises for determination in this case is whe....