1995 (2) TMI 10

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....itions, the assessee requests this court to direct the Tribunal to refer the following common questions of law said to arise out of the common order of the Tribunal for the assessment years 1986-87, 1987-88 and 1988-89 under section 27(3) of the Wealth-tax Act for the opinion of this court : "1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in holding that t....

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....e land in question. However, the Wealth-tax Officer, considering the fact that there is no registered sale deed executed by the assessee in favour of the trust, held that the value of the land is assessable in the hands of the assessee herein. Accordingly, the value of the land was determined at Rs. 2,72,894 and along with that, the value of the compound wall amounting to Rs. 1,50,000 was added. T....

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....ence on this aspect. It remains to be seen that the Department is not aggrieved against the order of the Commissioner of Wealth-tax (Appeals) in holding that the wealth-tax is leviable in the case of the assessee, but is aggrieved against the order of the Commissioner of Wealth-tax (Appeals) in directing the Wealth-tax Officer to adopt the value as per the sale deed under which the assessee pur....