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Section 27(3), read with section 7, of the Wealth-tax Act, 1957 - Reference - Question of fact - Assessment years 1968-69 to 1976-77 - Assessee-HUF, owned a house property which was used by it for residential purposes - Value of this property was to be determined in accordance with rule 1BB of the Wealth-tax Rules, 1957 - WTO rejected assessee's claim that 'gross maintainable rent' should be deemed on basis of municipal valuation of said building - Whether Tribunal's finding that 'gross maintainable rent' should be taken to be 'reasonable rent' in accordance with provisions of UP (Temporary Control of Rent and Eviction) Act, 1947 gave rise to a referable question of law - Held, no Facts The assessee-HUF owned a house property which was used by it for residential purposes. The value of this property was to be determined in accordance with rule 1BB. The WTO rejected the assessee's claim that the 'gross maintainable rent' should be on the basis of municipal valuation of the said building. On appeal, the Commissioner (Appeals) held that it should be the market rate which should be adopted as the 'gross maintainable rent'. On second appeal, the Tribunal held that the 'gross maintainable rent' should be taken to be the 'reasonable rent' in accordance with the UP (Temporary Control of Rent and Eviction) Act, as the property in question was governed by the provisions of the aforesaid Act. The reference application made by the revenue was also rejected. On an application under section 27(3) : Held In the instant case the order of the Tribunal in holding that the 'gross maintainable rent' should be adopted on the basis of 'annual reasonable rent' as per UP Rent Control Legislation did not give rise to a referable question of law. Cases referred to Mrs. Sheila Kaushish v. CIT [1981] 131 ITR 435 (SC), P.D. Singhania v. CWT [1979] 118 ITR 376 (All.) and Maharani Raj Laxmi Kumari Devi v. GED [1980] 121 ITR 1002 (All.). JUDGMENT Gulati, J. - These are nine applications under section 27(3) of the Wealth-tax Act, 1957 ('the Act') which relate to the assessment years 1968-69 to 1976-77. By these applications the Commissioner has required that the Tribunal be directed to refer…

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