W.T.R Nos.32 to 37 of 1988 -1- IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH W.T.R Nos.32 to 37 of 1988 Date of decision:24.10.2006 Commissioner of Wealth Tax, (Central),Ludhiana ...Petitioner Versus Shri Kirpal Singh, Ludhiana ...Respondent *** Commissioner of Wealth Tax, (Central),Ludhiana ...Petitioner Versus Shri Mohan Singh(HUF specified), Ludhiana ...Respondent **** Commissioner of Wealth Tax, (Central),Ludhiana ...Petitioner Versus Shri Jagat Singh,(HUF Specified) Ludhiana ...Respondent CORAM: HON'BLE MR.JUSTICE ADARSH KUMAR GOEL HON'BLE MR.JUSTICE RAJESH BINDAL Present: Mr.S.K.Garg Narwana, Advocate for the revenue. **** JUDGMENT Following question of law has been referred for opinion of this Court by the Income Tax Appellate Tribunal, Chandigarh arising out of its order dated 2.3.1987 passed in W.T.A.Nos. 29 to 32/Chandi/86, 39 and 40/Chandi/86 respectively , in respect of the assessment years 1973-74 and 1974-75.. “Whether on the facts and in the circumstance of the case, the Tribunal was right in law in holding that the assessee was entitled to deduction u/s 5(1) (iv) in respect W.T.R Nos.32 to 37 of 1988 -2- of his share in the land and building owned by the firm, styled M/S Gurmukh Singh & sons, Ludhiana in which he is a partner? We find that the question referred has already been gone into in judgment of this Court in Commissioner of Wealth Tax Vs. Vipin Kumar, (1993) 203 ITR-941, wherein it has been held that a partner was entitled to deduction under Section 5(1)(iv) of the Wealth Tax, 1957 in respect of his share in the land and building owned by the firm in which he is a partner. In view of the above, the question referred is answered against the revenue and in favour of the assessee. (Adarsh Kumar Goel) Judge October 24 ,2006 (Rajesh Bindal) Pka Judge