Commissioner Of Wealth Tax-I vs Estate Of Late Vikramsinhji on 11 September, 2009

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Gujarat High Court

Commissioner Of Wealth Tax-I vs Estate Of Late Vikramsinhji on 11 September, 2009

Bench: K.S.Radhakrishnan

TAXAP/1479/2008                      1/2                                ORDER


             IN THE HIGH COURT OF GUJARAT AT AHMEDABAD

                     TAX APPEAL No. 1479 of 2008
                                 To
                     TAX APPEAL No. 1489 of 2008


=========================================================
       COMMISSIONER OF WEALTH TAX-I, - Appellant(s)
                          Versus
               ESTATE OF LATE VIKRAMSINHJI,
        THRO. L R JYOTINDRASINHJI OF - Opponent(s)
=========================================================

Appearance :
MR MANISH R. BHATT, SR. COUNSEL with MRS MAUNA M BHATT for
Appellant(s) : 1,
None for Opponent(s) : 1,
=========================================================
CORAM : HONOURABLE THE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN

           and

           HONOURABLE MR.JUSTICE AKIL KURESHI



                           Date : 11/09/2009


ORAL ORDER

(Per : HONOURABLE THE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN) Heard learned counsel for the appellant. Admit.

Issue notice to the respondent on the following common substantial questions of law: (1)Whether the Hon'ble ITAT is justified in confirming the order of the CIT (A), when the AO is bound to follow valuation made by the DVO in view of specific provision of Section 16A (6) of the W.T. Act, 1957?

(2)Whether on the facts and in circumstances of the case and in law TAXAP/1479/2008 2/2 ORDER the Hon'ble ITAT is right in confirming the CIT (A)'s order that value of life interest only is to be taken for valuation of taxable wealth in respect of UK trusts?

(3)Whether on the facts and in circumstances of the case and in law the Hon'ble ITAT is right in confirming the CIT (A)'s order that nothing is to be taxed in the hands of the assessee as far as USA trusts are concerned?

(4)Whether the ITAT erred in confirming the CIT (A)'s order as it overlooked the fact that the issue regarding foreign trust is pending before the Hon'ble Supreme Court in assessee's own case for A.Ys 197071 to 197677 and 197879?"

Post along with Tax Appeal No. 1153 of 2008 to 1162 of 2008.

(K.S. Radhakrishnan, C.J.) (Akil Kureshi, J.) */Mohandas

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