provides that where the WTO has reason to believe that by reason of the omission or failure on the part of the assessee to file ... wealth chargeable to assessment escaped assessment, then it was open to the WTO at any time within eight years to reopen the assessment and proceed
writ of mandamus directing the respondent No. 1, who is the WTO, to give effect to the directions contained in the order of the Income ... year 1965-66, the value of the jewellery was the same. The WTO declined to grant exemption as prayed for by the petitioner
1995, the World Trade Organization (for short
"WTO") replaced GATT as the organization for overseeing
and regulating the functioning of the multilateral trading ... system. Upon signing the new WTO agreements, which
included the updated GATT, 1947, these contracting
countries officially became known as "WTO members
held by the petitioner was shown at Rs. 3,12,928. The WTO seems to have accepted this valuation. But when the matter was taken ... Tribunal by the departmental representative that the valuation adopted by the WTO and the AAC was in accordance with r. 1D. The Tribunal, therefore, found
Shantilal Bhogilal Jhaveri And Others vs C.L. Bhatia Fifth Wto, And Others on 6 August, 1990
Equivalent citations: [1991]187ITR395(BOM)
JUDGMENT ... decision in the case of Smt. Bella Cajeton Travasso v. Third WTO [1987] 166 ITR 49. It is held that a reading of the provisions
herself at Rs. 10,19,527. That value was accepted by the WTO. However, it was the claim of the assessee before the WTO that ... assessee. Needless to say that this contention was rejected by the WTO as also by the AAC before whom it was raised in the appeal
lakhs was included. On January 28, 1969, the WTO made the original assessment on the basis of the balance-sheet by following the global method ... about February 7, 1962, the WTO initiated action under s. 17 of the W. T. Act (hereinafter referred
31st March, 1957, 31st March, 1958, and 31st March, 1959, respectively, the WTO adopted the global method of valuation. However, in respect of the shares ... held by the assessee in foreign companies, the WTO valued the shares at the market value which was shown in the balance-sheet
Durga Prasad Ramniwas Poddar vs V. Vaswaney, 7Th Wto And Another on 10 March, 1984
JUDGMENT
Pratap, J.
1. In this petition under ... assessment within the meaning of s. 17 of the Act and the WTO, therefore, proposed to assess the said net wealth that has so escaped
returns for the assessment years 1967-68 and 1968-69. The WTO, Bombay, complated the wealth-tax asseessment for the assessment year ... relevant assessment years without prejudice to the contention that the WTO had no jurisdiction to reopen the assessment. The petitioner sought reasons from the WTO
