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2019 (5) TMI 863 - AT - Wealth-taxWealth tax assessment - non recording of reason showing escapement of wealth from taxation - admission of additional ground - validity of the original order passed u/s 16(3) in appeal against the order passed u/s 25(2) where the original order passed u/s 16(3) which was was subject to revision - HELD THAT:- As decided by the coordinate bench in the case of Westlife Development [2016 (6) TMI 1208 - ITAT MUMBAI] is in Income Tax matter but the principles laid down squarely applies to the wealth tax matter also as respective section of the assessment, reassessment and revision are similar. In view this, we hold that there is no infirmity in the argument of the AR in challenging the validity of the assessment which is subject to revision. Now as per the earlier order of the coordinate bench in this appeal on the order sheet it was found that the original records were required to be produced by the department. Such records were produced before us by the CIT- DR. On request to show the reasons recorded for issue of notice u/s 17 based on which the assessment u/s 16(3) was made, CIT DR could not show us such reasons recorded from the records. Order sheet of the assessment proceedings also did not show that any such reasons were recorded by the WTO. It is apparent that the original order passed u/s 16(3) of the Act read with section 17 of the WTA Act is passed without recording any reason showing escapement of wealth from taxation. In absence of any such reason shown to us, we do not have any other alternative but to quash the order u/s 25(2) of the WT Act passed by Commissioner of Wealth Tax. Consequently, we hold that order passed u/s 25(2) of the Act is invalid and hence quashed. Accordingly, appeal of the assessee for Assessment Year 2003-04 is allowed.
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