ORDER
1. These are 8 applications pertaining to the assessment years 1979-80 to 1986-87 and 1988-89, filed under sub-section (3) of section 27 of the Wealth Tax Act, 1957 (hereinafter referred to as "the Act), and arise out of a common order passed by the Tribunal.
1. These are 8 applications pertaining to the assessment years 1979-80 to 1986-87 and 1988-89, filed under sub-section (3) of section 27 of the Wealth Tax Act, 1957 (hereinafter referred to as "the Act), and arise out of a common order passed by the Tribunal.
2. In all these applications, the prayer is that the Tribunal may be directed to draw up a statement of the case and to refer the case for the opinion of this court on a common question set out in each of the applications.
2. In all these applications, the prayer is that the Tribunal may be directed to draw up a statement of the case and to refer the case for the opinion of this court on a common question set out in each of the applications.
3. We have heard the learned counsel for the parties. We are of the opinion that the order of the Tribunal is concluded by the findings of fact and does not give rise to any question of law. Certain land of the assessee was acquired in the assessment year 1979-80 and the possession was also taken on 25-3-1980. The Land Acquisition Officer determined the compensation at an amount of Rupees twenty-five lacs. It appears that there were some proceedings at the instance of the assessee seeking enhancement in compensation and the matter was being litigated when the assessments for the years in dispute were completed. The assessing authority was of the view that the assessee had a right to receive an enhanced compensation which was valued from Rs. 30 lacs to Rs. 68 lacs progressively in the assessment years 1980-81 to 1988-89. In appeal against the assessment order filed by the assessee, the Commissioner (Appeals) held that the value of the assessee's land should be fixed by applying Belting System, i.e., different rates to different parcels of land. The appellate authority also directed that the amount of compensation actually received should be deducted from the compensation, computed as per the formula mentioned in his order. The revenue filed second appeal before the Tribunal, which were allowed in part and in the ultimate analysis it held that the assessee was entitled to a deduction on account of the hazards of litigation and proceeded to observe as under :
3. We have heard the learned counsel for the parties. We are of the opinion that the order of the Tribunal is concluded by the findings of fact and does not give rise to any question of law. Certain land of the assessee was acquired in the assessment year 1979-80 and the possession was also taken on 25-3-1980. The Land Acquisition Officer determined the compensation at an amount of Rupees twenty-five lacs. It appears that there were some proceedings at the instance of the assessee seeking enhancement in compensation and the matter was being litigated when the assessments for the years in dispute were completed. The assessing authority was of the view that the assessee had a right to receive an enhanced compensation which was valued from Rs. 30 lacs to Rs. 68 lacs progressively in the assessment years 1980-81 to 1988-89. In appeal against the assessment order filed by the assessee, the Commissioner (Appeals) held that the value of the assessee's land should be fixed by applying Belting System, i.e., different rates to different parcels of land. The appellate authority also directed that the amount of compensation actually received should be deducted from the compensation, computed as per the formula mentioned in his order. The revenue filed second appeal before the Tribunal, which were allowed in part and in the ultimate analysis it held that the assessee was entitled to a deduction on account of the hazards of litigation and proceeded to observe as under :
lt would meet ends of justice if from the compensation finally awarded to the assessee, 30 per cent is deducted towards hazards and litigation and the same is taken as value of right to receive compensation in all the assessment years from assessment years 1980-81 to 1986-87 and 1988-89. As the date of acquisition is quite proximate to 31-3-1979, the amount of compensation ultimately awarded with deduction of 10 per cent can be taken as value of land for assessment year 1979-80."
4. It is not disputed by the learned standing counsel that the assessee was entitled to a deduction. The dispute is only with regard to the quantum of amount. In our opinion, when the Tribunal directed for the deduction of 30 per cent for the assessment years 1980-81 to 1986-87 and 1988-89 and ten per cent for the year 1979-80, the decision proceeded on appreciation of evidence having regard to the facts and circumstances of the case, it did not involve any question of law.
4. It is not disputed by the learned standing counsel that the assessee was entitled to a deduction. The dispute is only with regard to the quantum of amount. In our opinion, when the Tribunal directed for the deduction of 30 per cent for the assessment years 1980-81 to 1986-87 and 1988-89 and ten per cent for the year 1979-80, the decision proceeded on appreciation of evidence having regard to the facts and circumstances of the case, it did not involve any question of law.
5. All the applications are, accordingly, rejected.
5. All the applications are, accordingly, rejected.