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Section 2(m) of the Wealth-tax Act, 1957 - Net Wealth - Assets belonging to assessee - Assessment year 1997-98 - Assessing Officer issued a notice under section 17 to assessee stating that certain house property owned by him constituted his wealth and was taxable - Assessee contended that said property fell to his share after partnership firm, in which said property was held as stock-in-trade, was dissolved; and that since said firm all through held it as stock-in-trade, same would continue as stock-in-trade in hand of assessee also -Assessing Officer rejected assessee's contention and brought property in question to tax by treating it as part of assessee's wealth - On appeal, Tribunal allowed assessee's appeal holding that property in question constituted stock-in-trade of assessee and, consequently, same could not be brought within ambit and scope of Act - Whether since Tribunal had not given any specific reasoning for its holding and further, necessary evidence, which ought to have been adduced by assessee with regard to factual aspect of matter, was not produced, impugned order passed by Tribunal was to be set aside and matter was to be remitted back to Assessing Officer so as to record finding whether assessee had become absolute owner to property on dissolution of firm of which he was a partner - Held, yes CASE REVIEW Arif Noor Mohammed v. CWT [W.T.A. No. 25/Bang./2003, dated 17-5-2005] set aside M.V. Seshachala for the Appellant. S. Parthasarathi for the Respondent. JUDGMENT 1. Heard Sri M.V. Seshachala, learned counsel for the appellants and Sri S. Parthasarathi, learned counsel for the respondent. 2. Revenue is before us against the order dated 17-5-2005 passed by the Income-tax Appellate Tribunal, Bangalore Bench "A" in WTA No. 25/BANG./2003 for the assessment year 1998-99. This appeal has been preferred under section 27A of the Wealth-tax Act, 1957 (hereinafter shall be referred to in short as "the Act"). 3. The appeal before the Tribunal was preferred by the assessee against the order of the Commissioner of Wealth-tax (Appeals)-II, Bangalore, dated 11-2-2003. The said appeal having been allowed by the Tribunal, revenue is before us challenging the…

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