Meera Jacob vs Wto on 17 November, 2006
ORDER
1. The assessee has filed these 11 appeals under the Wealth Tax Act challenging the orders
plot no. 266 Greater Kailash-II, New Delhi estimated by the WTO at Rs. 16,50,000/- as against Rs. 6 lacs declared ... estimation of the value of plot is concerned the WTO has made following observation in the assessment order:
"Value of plot
Vimalchand Jain, Chennai vs Wto, Non Corporate Ward 6(3), Chennai on 4 October, 2018
आयकर अपील य अ
धकरण, 'सी' यायपीठ, चे
Tribunal in the case of Devinder Pal, Dharam Pal v. WTO (1983) 15 TLR 81 had the occasion to deal with similar situation ... Jullundar caused the assessment to be set aside and directed the WTO to redo the assessment after issuing proper notices to all the legal heirs
trade remedy measure. The erstwhile GATT and its successor WTO, through multi-lateral negotiations, have been bringing down tariff barriers and liberalising international trade. However ... prevent unfair trade under liberalised trading systems, WTO has mandated trade remedy measures such as anti-dumping duty against dumped imports, countervailing duty against subsidized
professional fees of the firm. The assessee's claim before the WTO in this respect was that his share in the outstanding fees ... Vysyaraju Badreenarayana Moorthy Raju [1971] 79 ITR 330. The WTO negatived the claim, following another order of the Tribunal wherein it was held that
have categorically held that Rule 1D has necessarily to be followed and WTO has no option either to follow or not to follow the same ... assessee are accepted then it would be open to the WTO to adopt such other method of valuation as he thinks appropriate in the circumstances
their individual wealth-tax returns. The same were accepted by the WTO in the course of time. The said persons also declared income arising from ... coparceners, who received the property on partition. Therefore, he held that the WTO was not justified in including the entire value of the sale proceeds
these appeals, the asses-see has disputed the penalties levied by the WTO under Section 18(1)(c) of the Wealth ... consideration, during the course of which, at the instance of the WTO, the assessee got the jewellery valued. According to the assessee's valuer
assets on the basis of which penalty was imposed by the WTO under Section 18(1) (c) .
4. The only contention of the assessee which ... quantum appeals with reference to which penalty has been imposed by the WTO under Section 18(1)(c) are material. Therefore, these deserve