( 1 ) THESE are nine applications under Section 27 (3) of the Wealth-tax Act, 1957, which relate to the assessment years 1968-69 to 1976-77. By these applications, the Commissioner of wealth-tax has required that the Income-tax Appellate Tribunal be directed to refer the case for the said years for the opinion of this court on three common questions proposed in these applications.

( 2 ) THE Hindu undivided family of Shadiram Ganga Prasad, the respondent assessee, had 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 of the Wealth-tax Rules, 1957. The question which fell for consideration before the Tribunal was as to what should be the "gross maintainable rent". According to the assessee, "gross maintainable rent" should be deemed to be the basis of municipal valuation of the disputed building. This was, however, not accepted by the Wealth-tax officer. In the first appeal, the Commissioner of Wealth-tax (Appeals) held that it should be the market rate which should be adopted as the "gross maintainable rent". On further appeal, the tribunal held that the "gross maintainab