WTR No.2 of 1995 -1- IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH WTR No.2 of 1995 DATE OF DECISION: February 22, 2010 THE COMMISSIONER OF WEALTH TAX ...PETITIONER PATIALA VERSUS SHRI SAT PAL SINGH, LUDHIANA ...RESPONDENT CORAM: HON'BLE MR. JUSTICE ASHUTOSH MOHUNTA. HON'BLE MR. JUSTICE MEHINDER SINGH SULLAR. PRESENT: MR. K.K. MEHTA, ADVOCATE FOR THE PETITIONER. NONE FOR THE RESPONDENT. ASHUTOSH MOHUNTA, J.(ORAL) The Income Tax Appellate Tribunal (for short 'the Tribunal) has referred the following question of law for adjudication:- “Whether on the facts and the circumstances of the case, the ITAT was right in law in upholding the action of the DCWT(A) directing to value the Interest of the assessee in land and building belonging to the firm in which the assessee is a partner according to the rules as per Schedule III to the W.T. Act, 1975 with respect to the assessment years prior to asstt. year 1989-90 also when section 7 of the W.T. Act, 1957 was amended w.r.f. 1.4.1989?” A perusal of the paper-book shows that the total Wealth tax liability in the present case is Rs.9690/- only. As the amount of Wealth tax is very meagre and the reference WTR No.2 of 1995 -2- relates to the year 1995, therefore, we decline to answer the question referred and the same is left open to be answered in some other appropriate proceedings. The aforementioned decision is taken in view of the decision in The Commissioner of Income Tax, Haryana, Rohtak vs. M/s Kailash Rice Mills, Pehowa, ITR No.178 of 1989, decided on 3.7.2008, wherein it was held that the parties have been litigating for a sufficiently long period and the ultimate tax effect is limited, therefore, even if the question of law comes in favour of the Revenue, there is no need to answer the question referred. Reliance was placed on Commissioner of Income-tax vs. Blaxe Advertising (Delhi) Pvt. Ltd., reported as (2002) 255 ITR 460, where the amount involved was only Rs.18,823/-. Disposed of accordingly. (ASHUTOSH MOHUNTA) JUDGE February 22, 2010 (MEHINDER SINGH SULLAR) Gulati JUDGE