Madhya Pradesh Court April 1972 Judgments

Commissioner of Wealth-tax Vs. Shri Manilal C. Desai

Court: Madhya Pradesh

Reported in: [1973]91ITR135(MP); 1972MPLJ703

ORDERBishambhar Dayal, C.J. 1. This order passed in Miscellaneous Civil Case No. 205 of 1970 will also govern the disposal of Misc. Civil Cases Nos. 206, 207, 208 and 209 of 1970, These are five references at the instance of the Commissioner of Wealth-tax, Madhya Pradesh. The facts are not in dispute. The assessee, Shri Manilal C. Desai, is a partner in a firm. While he was being assessed for income-tax the amounts standing in the name of his wife were included as his own money and the interest realised on those amounts was included in his income. The assessee, however, filed his wealth-tax returns for all the years in question from 1957-58 to 1961-62 and in all the years he claimed exemption for the amount standing in the name of his wife. The Wealth-tax Officer accepted this contention and did not include this amount in the wealth of the assessee. Later on, however, he gave a notice under Section 17 of the Wealth-tax Act for reopening of the assessment by including the amount as prop...