[ASN] IN IN IN THE THE THE HIGH COURT OF JUDICATURE AT BOMBAY HIGH COURT OF JUDICATURE AT BOMBAY HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION WEALTH TAX REFERENCE NO.53 OF 1999 The Commissioner of Wealth Tax-1. ..Applicant. Vs. Shri. Prakash Mehra. ..Respondent. Mr.P.S. Sahadevan for the Applicant. Mr. S.J. Mehta for the Respondent. CORAM : F.I. REBELLO & R.S. MOHITE, JJ. DATE 3rd April, 2009. PC : 1. This reference has been made on the following questions.. a) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding that assessee’s right in the films are exempt u/s. 5(1)(v) of the Wealth Tax Act? b) Without prejudice to the above, whether the ITAT was justified in holding the view mentioned in the aforesaid question inspite of the fact that these rights were assigned to the third party for commercial exploitation? 2. The aforesaid questions were answered by the judgment of this court in the case of C.W.T. Vs. C.W.T. Vs. C.W.T. Vs. [ 2 ] Krishana Krishana Krishana Kapoor Kapoor Kapoor (W.T.R.No.6 of 1995). (W.T.R.No.6 of 1995). (W.T.R.No.6 of 1995). In the light of that, both the questions are answered in the affirmative in favour of the assessee and against the revenue. Reference is accordingly, disposed off. ( R.S. MOHITE, J.) ( F.I.REBELLO, J.)