DIPAK KUMAR SEN, J.

( 1 ) THE question involved in this reference under Section 27 (1) of the Wealth-tax Act, 1957, at the instance of the Commissioner of Wealth-tax, West Bengal III, Calcutta, is whether tax paid by an assessee on the basis of his voluntary disclosure under Section 68 of the Finance Act, 1965, is an allowable deduction in the computation of his net wealth under Section 2 (m) of the Wealth-tax Act, 1957. The reference arises out of the assessment of wealth-tax of Bansidhar Poddar, the assessee, for the assessment year 1965-66, the relevant valuation date being the 9th April, 1965.

( 2 ) THE facts found or admitted are, inter alia, that the assessee had made a voluntary disclosure under Section 68 of the Finance 'act, 1965, on the 25th May, 1965. The amount disclosed was Rs. 2 lakhs with interest accrued thereon being Rs. 3,716. The tax due thereon computed under the said stction was paid on the 26th May, 1965.

( 3 ) IN the return of wealth-tax filed by the assessee this amount was included. In the assessment, the Wealth-tax Officer included the entire sum of Rs. 2,03,176, on the ground that both the disclosure and the payment of tax thereon were after the releva

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