TMI Blog2005 (8) TMI 58X X X X Extracts X X X X X X X X Extracts X X X X ..... not meant for setting aside the assessments with a view to confirm or remove vague suspicion as to ownership of gold ornaments which have been declared by the wife as an owner. In other words, the revisional jurisdiction cannot be invoked by the authority to find out whether the order of the Assessing Officer is erroneous or not. Tribunal was right in law in setting aside the order made by the Commissioner of Wealth-tax under section 25(2) of the Act. - - - - - Dated:- 10-8-2005 - Judge(s) : D. A. MEHTA., MS. H. N. DEVANI. JUDGMENT The judgment of the court was delivered by D.A. Mehta J.-The Income-tax Appellate Tribunal, Ahmedabad Bench "C", has referred the following question under section 27(3) of the Wealth-tax Act, 1957 (the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ries regarding the extent and ownership of gold ornaments and source of acquisition to establish whether the ornaments belong to the wife or the husband. He, therefore, set aside the assessment holding that the same was erroneous and prejudicial to the interests of the Revenue. The assessee carried the matter in appeal before the Tribunal. It appears that Smt. Arunaben had also been subjected to revisional proceedings under section 25(2) of the Act along with two other ladies and all the four appeals were consolidated altogether and heard by the Tribunal. While recording facts, the Tribunal has taken note of the fact that, according to the Commissioner, return of wealth filed by Arunaben on September 29, 1983, after action was taken under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ands reversed for the reasons given in the aforesaid decision in income-tax proceedings. However, the Tribunal has further found on facts that Smt. Arunaben had declared gold ornaments weighing 656 gms. in her return of wealth. That the value of gold ornaments so declared was included in the taxable wealth and the tax levied on passing of assessment order under section 16(3) of the Act was paid by Smt. Arunaben. The explanation tendered by Smt. Arunaben that the gold ornaments were received by her on the occasion of her wedding which took place in 1974 has been accepted by the Tribunal by recording that "It is quite common and customary in Indian families that the parents and other relatives give gold ornaments on the occasion of wedding ..... X X X X Extracts X X X X X X X X Extracts X X X X
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