Allahabad Court October 1999 Judgments

Commissioner of Wealth-tax Vs. Ashok Kumar Goel

Court: Allahabad

Reported in: (2000)163CTR(All)149; [2000]244ITR755(All)

1. By this reference under Section 27(1) of the Wealth-tax Act, 1957, the Income-tax Appellate Tribunal, Delhi Bench 'A', Delhi, has referred the following question for the opinion of this court :'Whether, the Tribunal was in law justified in setting aside the order under Section 25(2) passed by the Commissioner of Wealth-tax on the ground that it lacked jurisdiction at the time of issue of the notices under Section 25(2) ?'2. The aforesaid question is stated to arise out of the Tribunal's order dated October 14, 1977, passed in W. T. A. No. 66 (Delhi) of 1976-77 pertaining to the assessment year 1973-74.3. We have heard Sri Prakash Krishna, learned counsel for the Commissioner. No one appeared on behalf of the assessee.4. The respondent's assessment to wealth-tax was made by order dated March 16, 1974, in which a liability amounting to Rs. 2,62,054 was allowed as deduction in computing the net wealth of the assessee. The Commissioner of Income-tax on noticing that the said liability w...