JUDGMENT

Pattanaik, J.-In this appeal by grant of certificate by Delhi High Court interpretation of Section 5(i)(iii) of the Wealth Tax Act, 1957 (hereinafter referred to as The Act ) is involved. On an application being filed under Section 27(1) of the Act the Tribunal referred the following question to the High Court for being answered :

"Whether on the facts and in the circumstances of the case the Tribunal was justified in holding that the buildings of the Khas Bagh Palace which were let out to different persons from whom a rental income was received by the assessee were not in the occupation of the assessee within the meaning of Section 5(1)(iii) of the Wealth Tax Act 1957 and hence the value thereof was includible in the net wealth of the assessee ?"

2. The assessee Late H.H. Nawab Sir Syed Raza Ali Khan, Newab of Rampur is the owner of Khan Bagh Palace. The said Palace was declared by the Central Government in exercise of power under paragraph 13 of the Merged States (Taxation Concessions) Order 1949, to be the official residence of the Ruler. During the assessment year 1961-62 the assessee claimed exemption of the aforesaid Palace in computation of the wealth under the Wealth