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JUDGMENT P.B. Mukharji, CJ.-The Tribunal has referred in this income-tax reference under section 256(1) of the Income-tax Act, 1961, the following question for decision by this court: "Whether, on the facts and in the circumstances of the case and on the interpretation of sections 22 and 23 of the Income-tax Act, 1961, the Tribunal was right in holding that in computing the income from property the bona fide annual value of the property at 3, Gun Foundry Road, Calcutta, has not to be taken and in disallowing the vacancy remission and other deductions in respect of the aforesaid property?" Even though the words of the question are not as clear as they could and should be, it is plain what the question asks. The question is whether there is an annual value of premises No. 3, Gun Foundry Road, Calcutta, and whether it is to be taken into account under section 22 of the Income-tax Act, 1961. The Tribunal has held that such a property is outside the scope of section 22 of the Act. The second part of the question is also plain and that is whether the Tribunal was right in disallowing the vacancy remission and other deductions in respect of the said property. It would have been better if instead of using the expression "other deductions" the Tribunal had made it clear in the question what are the specific deductions in this case because they are confined to three items: (1) the vacancy remission, (2) the municipal taxes, and (3) the insurance premium, which are claimed as statutory deductions under sections 23 and 24 of the Income-tax Act, 1961. These deductions are discussed in the order of the Income-tax Officer. The facts giving rise to this question may be stated at the outset. The assessee is a company in voluntary liquidation represented by a liquidator. The assessment year is 1962-63 for which the previous year is the calendar year 1961. The assessee filed a return of a total income on 10th December, 1962, showing a total income of Rs. 2,469 and a loss under the head "Capital gains" of Rs. 6,390, and in that computation a loss was shown under the item "Less: loss under the head 'Property'-Rs. 15,821". In support of the claim of loss for Rs. 15,821 under the…

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