Srinivasa Iyengar, J.—The assessee in these two cases is the same and the question referred is also common. The matters relate to the assessment year 1972-73 and 1973-74 and are in relation to wealth-tax assessment.

2. The WTO rectified the assessment by having recourse to s. 35 on the ground that in making the deduction under s. 5(1A) of the W.T. Act, excess deduction had been given in a sum of Rs. 87,250 and Rs. 77,250 in the two years respectively. This action was challenged in appeal before the AAC as well as the Tribunal but without success. At the instance of the assessee, the reference has been made. The Tribunal has referred the following common question :

"On the facts and in the circumstances of the assessee's case whether the Tribunal was right in its interpretation of the proviso to section 5(1A) of the Wealth-tax Act, 1957 ?"

3. The relevant section reads as follows :

"(1A) Nothing contained in sub-section (1) shall operate to exclude from the net wealth of the assessee any assets referred to in clauses (iva), (xv), (xvi), (xxii), (xxiii), (xxiv), (xxv), (xxvi), (xxvii), (xxviii), (xxix), (xxxi) and (xxxii) [not being deposits under the Post Office Savings bank (Cu