9911796707
TMI Blog1983 (7) TMI 104X X X X Extracts X X X X X X X X Extracts X X X X ..... as filed her returns of wealth-tax for the asst. yrs. 1973-74 & 1974-75 on 4th November, 1974 and for the asst. yrs. 1975-76 on 13th December, 1975 showing the wealth at Rs. 1,13,420, Rs. 1,54, 430 and Rs. 1,56,508 respectively. These returns were subsequently revised showing the wealth at Rs. 1,32,785, Rs. 1,70,103 and Rs. 1,76,828 on 13th October, 1978 for the years under appeal. Respectively. In the original returns filed by the assessee, the as had not shown the value of the plot at Rs. 18,945 and the same was shown in the revised returns. The WTO, therefore, concluded that the as had deliberately tried to conceal the particulars of this plot and when confronted with this fact the assessee field revised returns adding the value of the p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f submissions of this purchase deed it came to the knowledge of the assessee that part of the land belonged to the assessee. The share of the assessee in the cost of the plot was Rs. 18,945 which was subsequently shown by her in all the wealth-tax returns which were revised. The total value of the plot, namely Rs. 28,410 was shown in the wealth-tax returns of her husband Shir A.K. Dawar right form the asst. yrs. 1971-72 to 1977-78. After this year the position was corrected and the value of his share was only shown. This clearly showed that here was no concealment on the part of the assessee. He further contended that in order that the penalty u/s 18(1)(c) may be imposed it has to be proved by the revenue that the assessee has made the conc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he facts and circumstances of the case and the submissions on either side for s. 18(1)(CIT) of the WT Act to be invoked, the assessee should have concealed the particulars of any assets or furnished inaccurate particulars of any assets or debts. In the present case it cannot be said that the as had concealed the particulars of any assets. The fact that the entire value of the land belonged to her. It is also an admitted fact that the revised returns were submitted voluntarily and without any notice. The moment the assessee came to know that part of the land belonged to her, she immediately revised the returns and showed the value of her share of the plot in the returns. On proper appreciation of the facts, we are of the opinion that there i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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