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D. M. CHANDRASHEKHAR, J. M. L. SINHA
Juggilal Kamlapat Bankers – Appellant
Versus
Wealth-Tax Officer, C-Ward – Respondent
Chandrashekhar, C.J.
1. IN this petition under Article 226 of the Constitution, the petitioners have challenged the reference made by the WTO to the Valuation Officers for valuing certain buildings belonging to petitioner-1 firm. The petitioners have also prayed for quashing the notices issued by the Valuation Officers to petitioner-2. The petitioners have also prayed for a writ in the nature of mandamus restraining the Valuation Officers from valuing those buildings.
2. MOST of the material facts are not in dispute and they are briefly as follows: Petitioner-1, Messrs. Juggilal Kamlapat Bankers, is a partnership-firm. Petitioner-2, Padampat Singhania, was one of the partners thereof in his capacity as the karta of a HUF. He had been assessed to wealth-tax in the status of HUF and the assets so assessed for tax included the interest of the family in petitioner-1 firm up to the assessment year 1966-67.
In the returns to wealth-tax submitted by petitioner-2 in the status of HUF for the assessment years 1967-68 to 1972-73, the family's interest in petitioner-1 firm was included.
3. PETITIONER-1 firm owned a number of buildings in Kanpur. In the returns submitted by petitioner-2
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