9911796707
TMI Blog1982 (11) TMI 60X X X X Extracts X X X X X X X X Extracts X X X X ..... s filed on 17th Jan, 1976. The total wealth as declared amount to Rs. 1,39,620 which includes Rs. 29,250 for ornaments, Rs. 10,000 bank deposit and Rs. 5,000 in savings bank account. Before the WTO in reply to the show cause notice she has stated that she was under impression that her wealth did not exceed Rs. 1 lac and that it was only at the time of filing the wealth-tax return for the asst. yr. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ee. 3. The ld. Departmental representative, on the other hand, has relied upon the orders of the WTO and the AAC and also contended that the assessee had asked for extension of time for filing the returns indicating her awareness of her duty to file the wealth-tax returns. 4. The AAC has stated that the assessee had been income-tax payer for several years aided by a Tax Expert, and that regula ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the taxability of her wealth to wealth-tax and the fact that the applications are for the subsequent year, does not matter. This may be technically true but it would be too harsh a view to take. The penalty order of the WTO shows that she had explained that at the time of filing of wealth-tax return for the asst. yr. 1975-76 it was found by her ITP that the total wealth exceeded Rs. 1 lac and im ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
