TMI Blog1982 (4) TMI 9X X X X Extracts X X X X X X X X Extracts X X X X ..... not for resisting a proposition which is apparent like broad daylight. The present petition under s. 27(3) of the W.T. Act, 1957 (hereinafter referred to as " the Act "), has been initiated by the Revenue, in the circumstances which are these. The predecessor-in-interest of the respondents, Shri Nemi Chand Jain, owned movable and immovable assets and after filing his return for the assessment year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dit party, the WTO re-opened the assessment for the year 1968-69, and after doing so, completed the fresh assessment on a net wealth of Rs. 11,86,820 by enhancing the value of the land as well as the building. The assessee having died, his legal representatives filed an appeal before the AAC, who found that it was not a case of escaped assessment under s. 17(1)(a) of the Act, as the assessee had ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ave heard the learned counsel for the parties in this matter The sole question which falls for consideration is, as to whether for the purpose of justifying a reassessment the case would fall within the provisions of s. 17(1)(a) of the Act. On facts, it cannot be controverted at this stage that the reassessment was based upon the note of the audit party on the question of including the interest am ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ose of the said sub-section is only four years. The first assessment having been completed on August 31, 1969, a reassessment after the expiry of four years, was not permissible under s. 17(1)(b) of the Act. There being no other provision enabling the Department to reopen the case, the finding of the authorities below that the reassessment was incompetent, is quite correct and is affirmed. In th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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