9911796707
TMI Blog1980 (3) TMI 23X X X X Extracts X X X X X X X X Extracts X X X X ..... ed October 3, 1970, passed by the Commissioner of Wealth-tax, Delhi (Central), New Delhi, dismissing their revision petitions filed before the Commissioner under s. 25 of the W.T. Act, 1957 (Act 27 of 1957), hereinafter referred to as " the Act ". The revision petitions filed by Smt. Lalita Dalmia and Smt. Krishna Dalmia were in respect of various assessment years from 1957-58 to 1967-68, whereas the revision petition in relation to Smt. Abha Dalmia was filed in respect of assessment years 1964-65 to 1966-67. The revision petitions were filed as a sequel to the decision of the Supreme Court in the case of CWT v. Arundhati Balkrishna [1970] 77 ITR 505. The said revision petitions were filed by all the petitioners on April 3, 1970. Since th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for determining her net wealth under the provisions of s. 5(1)(viii) of the Act irrespective of the limited exemption available to jewellery under s. 5(1)(xv). The Supreme Court in this case affirmed the decision of the Gujarat High Court. After the decision of the Supreme Court in Arundhati Balkrishna's case [1970] 77 ITR 505, s. 5(1)(viii) has since been amended retrospectively with effect from the assessment year 1963-64. We are, therefore, concerned in the present case only in relation to the revision petitions filed by the petitioners for the assessment years from 1957-58 till the effective date of amendment of s. 5(1)(viii) of the Act. The Commissioner by his impugned orders dismissed the revision petitions filed by all the petitio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... her of his own motion or on application made by an assessee in this behalf call for the record of any proceeding under this Act in which an order has been passed by any authority subordinate to him, and may make such inquiry, or cause such inquiry to be made, and, subject to the provisions; of this Act, pass such order thereon, not being an order prejudicial to the assessee, as the Commissioner thinks fit : Provided that the Commissioner shall, not revise any order under this sub-section in any case . ...... (c) where the application is made by the assessee for such revision; unless (i) the application is accompanied by a fee of twenty-five rupees, and (ii) the application is made within one year from the date of the order sought to be r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and reasonably believed that the jewellery of the petitioners was liable to tax under the provisions of the Act and in this connection referred to the decisions of the Supreme Court in Sales Tax Officer, Banaras v. Kanhaiya Lal Makund Lal Saraf [1958] 9 STC 747; AIR 1959 SC 135 and D. Cawasji & Co. v. State of Mysore, AIR 1975 SC 813 and it was submitted that even a suit will be maintainable under s. 72 of the Contract Act within three years of the discovery of the common mistake. It will be noticed that the case of Kanhaiya Lal Makund Lal [1958] 9 STC 747; AIR 1959 SC 135 was a case where levy of sales tax on forward transactions was held by the High Court to be ultra vires and, thereafter, the assessee had filed a writ petition for quash ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner by way of revision petition under s. 25 of the Act. The revisional power was sought to be exercised by the petitioners themselves and it was not a case of suo motu exercise of revisional power. The only person who is entitled to go in revision is the one who is aggrieved by an order. The petitioners themselves had never claimed an exemption, so, there was nothing for the WTO to allow any reduction by way of, exemption while computing the net wealth of the petitioners. It was for the assessees themselves while filing the returns to claim any exemption which they may feel entitled to for the purpose of computation of their net wealth. It is not for the authorities under the Act to suggest an exemption which is not claimed by the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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