Court : Andhra Pradesh
Reported in : [1975]100ITR645(AP)
..... (1) where a person dies, his executor, administrator or other legal representative shall be liable to pay out of the estate of the deceased person, to the extent to which the estate is capable of meeting the charge, the wealth-tax assessed as payable by such person, or any sum, which would have been payable by him under this act if he had not died...... ..... the last limb of section 19(1), namely, 'any sum which would have been payable by him under the act if he had not died' cannot be invoked against the legal representative for the reason that sub-section (3) provides that the provisions of sections 14, 15 and 17 shall apply to an executor, administrator or other legal representative as they may apply to any person referred to in those sections. ..... after his death, the wealth-tax officer issued the impugned notice on october 12, 1972, to the petitioner, as the legal representative of the assessee proposing to levy penalty under section 18 for the alleged default of the assessee in filing the returns in time without any reasonable cause. ..... the short question that arises in these two writ petitions is whether action can be taken against the legal representatives of an assessee under section 18(1)(a) of the wealth-tax act on the ground that the assessee had failed to furnish return of his net wealth without reasonable cause within the time allowed and in the manner required. 2. .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1988]170ITR181(AP)
..... assessee, is that the tribunal was in error in holding that the assessment orders under the wealth-tax act for the assessment years 1966-67 to 1973-74 were made 'on a protective basis'; on the other hand, the said assessments were made on a regular basis, accepting the wealth returned by the assessee, and that the said assessment orders under the wealth-tax act completely and fully explain the investments during the accounting year relevant to the assessment year ..... the assessee filed a further appeal before the income-tax appellate tribunal before the tribunal, the assessee contended that in the assessments made under the wealth-tax act for the earlier assessment years, the wealth returned by him has been accepted by the wealth-tax officer, which clearly shows that the assessee possessed substantial wealth from year to year, and which also shows that the investments made were not our of any unexplained ..... in the event of a doubt entertained by the assessing authority as to the correct recipient of the income, a protective assessment on one of the person is blessed with a view to rescue the assessments from the taboo of double taxation and save the bar of limitation. ..... filing of the returns suddenly on october 9 and 10, 1974, was the result of a notice issued under section 139(2) by the income-tax officer on september 25, 1974, for the assessment year 1974-75. ..... questions are stated for our opinion by the income-tax appellate tribunal under section 256(1) of the income-tax act, 1961. .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1995]216ITR232(AP)
..... whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was correct in law in holding that the right to wear the jewellery is not an asset so as to be assessed under section 21(1) of the wealth-tax act, 1957, in the hands of the trust representing the beneficiary, even after the retrospective amendment of section 5(1)(viii) of the wealth-tax act, 1957, by the finance (no. ..... , on the facts and in the circumstances of the case, the income-tax appellate tribunal was correct in law in holding that the assessment orders of the wealth-tax officer passed for the assessment years 1976-77 to 1980-81 are bad in law for assessing the beneficiary's life interest in the jewellery under section 21(1) of the wealth-tax act, 1957 2. ..... the revenue filed applications under section 27(3) of the wealth-tax act, 1957, to refer the following questions for opinion : ..... of 1969, dated november 5, 1971, held that the right to wear jewellery was not an asset within the meaning of section 2(e) of the wealth-tax act and, therefore, the same was not taxable under section 21(1) of the act. ..... therefore, agree with the tribunal that neither the interest of the sahebzadi in the jewellery fund nor her interest in the shares fund is an asset within the meaning of the wealth-tax act. ..... the result, the wealth-tax cases are dismissed. ..... hence, these wealth-tax cases are filed in this court. ..... this right as a life interest, the beneficiaries were held taxable by the wealth-tax officer. .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1997]226ITR591(AP)
..... facts and in the circumstances of the case, the appellate tribunal is correct in law in confirming the order of the commissioner of income-tax (appeals), especially when the commissioner of income-tax (appeals) did not follow the procedure prescribed under section 23(3a) of the wealth-tax act, 1957, which casts an obligation on the commissioner of wealth-tax (appeals) to give an opportunity of being heard to the valuation officer who gave report under section 16a of the act 2. ..... this is an application filed by the commissioner of wealth-tax under section 27(3) of the wealth-tax act, 1957, to refer the following questions of law for decision of this ..... admittedly in this case, the commissioner (appeals) had not followed the procedure prescribed under section 23(3a) of the wealth-tax act which enjoins on the appellate authority to give an opportunity of hearing to the valuation ..... facts and in the circumstances of the case, the appellate tribunal is right in law in not giving an opportunity of being heard to the valuation officer who submitted a report under section 16a as required under section 24(5) of the wealth-tax act 3. ..... the valuation of a departmental valuer, the wealth-tax officer fixed the wealth representing the assessee's interest in the trust at ..... by taking into account irrelevant factors or by eschewing from consideration relevant factors or a valuation based on wild guess work rather than proper data could be found fault with as a legal error and not merely as a factual error. .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : AIR1965AP447; [1967]65ITR579(AP)
..... 27(1) of the wealth tax act (27 of 1957) in respect of the assessment of the respondent for the assessment years 1957-58, 1958-59 and ..... it was held by a division bench of the mysore high court that the assessment under the wealth tax act in respect of the property which the assessee had received on partition must be made on his as the karta of his undivided family and not as ..... : [1963]48itr959(mad) (supra), the assessee became the sole surviving coparcener of a hindu undivided family and was an issueless widower with the result that no other persons such as widows or other female members of the family were entitled to any claims upon the estate. ..... in respect of certain assets:- (1) wealth tax shall not be payable by an assessee in respect of the following assets, and such assets shall not be included in the net wealth of the assessee- (i) ............................................ ..... number of females belonged to the hindu undivided family of the sole surviving coparcener, including his deceased son's widow who exercised her power of adoption after his death. ..... in an extra legal sense, and even for some purposes of legal theory, ancestral property may perhaps be described and usually described as family property; but it does not follow that in the eye of the hindu law it belongs save in certain circumstances to the family as distinct from ..... (14) but the legal position when a coparcener obtains ancestral property as his share on partition is different from property held by a sole .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1972]85ITR201(AP)
..... the following four questions have been referred under section 27(1) of the wealth-tax act, 1957, at the instance of the assessees by the income-tax appellate tribunal, hyderabad bench, for the opinion of this court :'(1) whether, on the facts and in the circumstances of the case, the leasehold right of the assessees in respect of the lands in question with the right to win mica therefrom constitutes an asset within the meaning of the wealth-tax act? ..... great respect to the learned judges, we are unable to subscribe to the view expressed by them that the order of the controller of mining leases for india passed on june 27, 1959, was retrospective in operation and the accountable person could successfully urge in the appeal that the unexpired portion of the lease was only 4 years on the valuation date on the basis of the notification dated june 27, 1959. ..... it is represented by sri p. ..... the learned advocate for the department is unable to sustain this 8 year period, though he contends that the valuation of the unexpired lease must be taken as on the date of the death of the deceased which according to him is 13 years. ..... --dead rent shall be payable at, the rate of rs. .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1988]171ITR41(AP)
..... 'whether, on the facts and in the circumstances of the case, and on a correct interpretation of the proviso to section 4(1)(a) of the wealth-tax act, 1957, the tribunal was right in including the value of the assets gifted by the assessee to his wife on march 31, 1967, in computing his net wealth ?' 2. ..... in this reference made under the section 27(1) of the wealth-tax act, the following question is referred for our opinion by the income-tax appellate tribunal. ..... section 4 of the wealth-tax act mentions certain assets which should be included in the net wealth of an individual. ..... sub-clauses aforesaid are held in the form in which they were transferred or otherwise : provided that where the transfer of such assets or any part thereof is either chargeable to gift-tax under the gift-tax act, 1958 (18 of 1958), or is not chargeable under section 5 of that act, for any assessment year commencing after the 31st day of march, 1964, but before the 1st day of april, 1972, the value of such assets or part thereof, as the case ..... the legal representatives claimed that the value of the immovable properties gifted by the assessee to his wives prior to april 1, 1964, should be excluded from the computation of the wealth of the assessee. ..... the assessment proceedings were accordingly continued in the name of his legal representatives. .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1995]216ITR546(AP)
..... in this petition under section 27(3) of the wealth-tax act, 1957 (hereinafter referred to as 'the act'), the revenue prays for a direction to the income-tax appellate tribunal, hyderabad, to state a case and refer the following questions to this court for opinion : '(1) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal was justified in law in holding that where the trust is for the benefit of persons of shia sect of muslims in general, without specific names, provisions of section 21(4) are not ..... we, therefore, direct the income-tax appellate tribunal to refer the following question to this court : 'whether, on the facts and in the circumstances of the case, section 21(4) of the wealth-tax act is attracted ? ..... in our view, the question-whether, on the facts and in the circumstances of the case, section 21(4) of the wealth-tax act is applicable is a question of law. ..... in law in holding that for applying section 21(4), the beneficiaries should be known persons with their shares indeterminate or unknown (3) whether, on the facts and in the circumstances of the case, the income-tax appellate tribunal ought the have held that a finding whether the assessee was engaged in religious activities was not called for, since the same issue was concluded by the wealth-tax officer by denying the exemption under section 5(1)(i), and cannot be raised in revision proceedings .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : (1988)67CTR(AP)4; [1988]170ITR1(AP)
..... 343 of 1982 is a reference made by the tribunal under section 27(1) of the wealth-tax act, 1957, concerning the wealth-tax assessment years 1976-77 and 1977-78. in r.c. no. ..... of 1982, the question referred for consideration of this court is : 'whether, on the facts and in the circumstances of the case, having regard to the provisions of section 4, sub-section (1a), clause (c), of the wealth-tax act, 1957, rs. ..... these two references arising under the income-tax act, 1961, and the wealth-tax act, 1957, raise certain common issues for consideration concerning the same ..... - for the purposes of sub-section (2), - 'property' includes any interest in property, movable or immovable, the proceeds of sale thereof and any money or investment for the time being representing the proceeds of sale thereof and where the property is converted into any other property by any method, such other ..... claim that the assessee and his wife constitute a smaller hindu joint family after the partition of the joint family assets is legally sustainable in view of the decision of this court in premchand v. ..... in view of the correct legal position, we reframe the question to bring about the real controversy in the following form : 'whether, on the facts and in the circumstances of the case, the income arising to the assessee from the extent of the ..... this legal position is fairly settled - vide decisions of the supreme court in gowli buddanna's case : [1966]60itr293(sc) and narendranath's case : [1969]74itr190(sc) .....
Tag this Judgment!Court : Andhra Pradesh
Reported in : [1995]216ITR435(AP)
..... this is an application under section 27(3) of the wealth-tax act, 1957, by the revenue for directing the tribunal to state a case and make a reference of the following questions of law : '(1) whether, on the facts and in the circumstances of the case, the appellate tribunal is right in law in holding that the two partial partitions on january 19, 1976, and october 16, 1978, are valid in law and satisfy the requirements of section 171 indisputedly effected before march 31, 1978 (2) whether, on the facts and in the ..... however, for the purpose of wealth-tax, the tribunal came to the conclusion that the said partial partitions were genuine and were valid under the hindu law and accordingly decided the case in favour of the assessee. ..... the said application was rejected and, therefore, this petition under section 27(3) of the act has been made for directing the tribunal to state the case and to make a reference. 3. ..... after having heard learned counsel for the parties, we are of the view that the tribunal ought to have referred the first question to this court under section 27(2) of the act, as it does give rise to a question of law. .....
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