1994 (11) TMI 13

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....er section 27(3) of the Wealth-tax Act, 1957 (hereinafter referred to as " the Act "), the Revenue prays for a direction to the Income-tax Appellate Tribunal, Hyderabad, to state a case and refer the following questions to this court for opinion : " (1) Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in law in holding that where the trus....

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....o the Income-tax Appellate Tribunal? " The assessee is a wakf. For the assessment years 1979-80 to 1981-82 returns were filed by the assessee and exemption was claimed under section 5(1)(i) of the Act. The Wealth-tax Officer disallowed the claim for exemption, completed the assessment and assessed tax as specified in Part I of Schedule I to the Wealth-tax Act. In exercise of the power conferred u....