annexure-I--and December 27, 1982--annexure-J--requested the WTO to supply the reasons for the reopening of the completed assessment but no reply ... sale deed was also produced; that the ITO who is also the WTO was thus fully aware of the position and he had raised
returned the value of this property at Rs. 3,74,000. The WTO, however, fixed the value of the property ... years, the value of the above asset was fixed by the WTO at Rs. 22,00,000 and Rs. 25,00,000, respectively. The assessee
return that he was not a citizen of India. The WTO, however in advertently, adopted the status of the assessee as non-resident ... Schedule appended to the W.T. Act. On realising his mistake, the WTO proceeded to rectify his orders by adopting the status of the assessee
partner in firms, which in their turn, also own immovable properties. The WTO had made the assessment on 30-31-1981 on a net wealth ... Commissioner being of the opinion that the order passed by the WTO was erroneous insofar as it was prejudicial to the interest of the revenue
assessee for the assessment years 1976-77 and 1977-78, the WTO included sums of Rs. 1,96,115 and Rs. 2,41,265, respectively ... Pharmaceutical & Chemical Works. Apart from including the interest as above, the WTO had not included any goodwill relating to the firm as an asset
basis of the approved valuer's report.
5. The learned WTO not being satisfied with the valuer's said report referred the issue ... vide his report dated 20-3-1981. The learned WTO thereafter on the basis of the said report adopted the value of the said building
Wealth-tax Act 1957 ('the Act'), by the WTO for the assessment years 1966-67 to 1971-72. Different amounts of penalties have ... been levied by the WTO. In the departmental appeals several grounds are raised. One of the grounds is that the appeals against the levy
case, whether the Tribunal was justified in stating that the WTO did not carry any enquiry in treating the property as one in which ... such contention was at any time put forth for consideration by the WTO ?
4. The appeals were decided by a consolidated order. The facts, circumstances
case, the Tribunal was justified in vacating the order of the WTO who imposed penalty of Rs. 9,039 under Section ... There was, thus, a delay of 44 months. The WTO issued a show-cause notice in terms of Section
Wealth-tax Act, 1957 ('the Act') the WTO initiated proceedings under Section 18 (1 )(a) of the Act and called upon the assessee ... returns were filed by the assessee only after the WTO took action under Section 17 of the Act and called upon the assessee to file
