COMMISSIONER OF WEALTH TAX, BOMBAY CITY II vs PURSHOTTAM N. AMERSEY — 1971 PTD 389

Citation: 1971 PTD 389

Court: Bombay High Court

Year: 1970

Decision Date: 1970-12-31

Parties: COMMISSIONER OF WEALTH TAX, BOMBAY CITY II vs PURSHOTTAM N. AMERSEY JUDGMENT

Headnotes

Case cited as 1971 PTD 389

Judgment Text

Court Name: Bombay High Court Judge(s): V. S. Desai, S. P. Kotwal Title:COMMISSIONER OF WEALTH TAX, BOMBAY CITY II vs PURSHOTTAM N. AMERSEY JUDGMENT Reported As: 1971 PTD 389 Result: answered in the negative Judgment JUDGMENT KOTVAL, C. J.-The only question referred for our decision is : "Whether, on the facts and in the circumstances of the case, and having regard to the terms of Annexure `A', the Tribunal was justified in holding that the interest of the assessee under the trust had no value?" This question has been framed in connection with the assessments to wealth tax of two individuals who are brothers, Purshottam N. Amersey and Manoranjan N. Amersey, but at the hearing before the Tribunal and before us it was agreed that the facts and circumstances in the cases of both the assessee are the same and that the documents which fall to be considered in each case are also similar. Therefore, in the statement of the case reference has been made to the facts of only one case, that of the assessee Purshottam, and we shall also for the purposes of the decision of this reference refer to the facts and circumstances of that case. Purshottam Amersey and his brother were partners along with others in Messrs Amersey Damodar of Bombay. In that firm, Purshottam had to the credit of his account in the year 1949 a sum of Rs. 4,50,000 lying in deposit with the firm. On 8th September 1949, he declared a trust of this amount. The amount was not made over to anyone but it appears that by…

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