Judgment Search Results Home > Cases Phrase: wealth tax act 1957 section 34aa appearance by registered valuers Court: andhra pradesh Page 1 of about 1 results (0.050 seconds)

G. Topi Saheb Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Reported in : [1988]170ITR181(AP)

..... 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 ..... 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 ..... contended for is unobjectionable ; but, there is no material in this case, nor was any material placed by the assessee before the tribunal, to show that tax assessed under the wealth-tax act for the earlier assessment years has been collected by the revenue. ..... the wealth-tax assessments appear to have been made accepting the returns ..... 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. ..... for our opinion by the income-tax appellate tribunal under section 256(1) of the income-tax act, 1961. .....

Commissioner of Wealth-tax Vs. Trustees of H.E.H. the Nizam's Wedding ...

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. ..... whether, 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 : '1 ..... 67 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. ..... to our minds, the interest appears to be of a permissive nature and cannot be called property, however widely the expression may be interpreted .....

Commissioner of Wealth-tax Vs. Mrs. Rahamatunnissa Begum

Court : Andhra Pradesh

Reported in : [1997]226ITR591(AP)

..... the 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 court ..... 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 ..... based on the valuation of a departmental valuer, the wealth-tax officer fixed the wealth representing the assessee's interest in the trust ..... whether or not the valuation made by departmental valuer was rejected on relevant grounds and whether the estimation made by the appellate commissioner is based on accepted principles is a question of law to ..... for the respondent is not in a position to clarify the basis on which a substantial reduction was made rejecting the departmental valuer's estimation. ..... unable to know the basis on which the commissioner reduced the valuation made by the departmental valuer. 3. .....

Commissioner of Wealth Tax, Andhra Pradesh, Hyderabad Vs. N.V. Narendr ...

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 an ..... the pronouncement was made by the judicial committee more than twenty years prior to the passing of the wealth tax act, there is no provision in the wealth tax act defining a 'hindu undivided family' in a different sense. ..... but the question for the purpose of the wealth tax act is whether the assets in his hands belonged to him alone or to a different entity ..... (3) charge of wealth tax: subject to the other provisions contained in this act, there shall be charged for every financial year commencing on and from the first day of april, 1957, a tax (hereinafter referred to as wealth tax) in respect of the net wealth on the corresponding valuation date of every individual, hindu undivided family and company at the rate or rates specified in the schedule. ..... proceeding further, it may be useful to read some of the provisions of the wealth tax act, which have a material bearing on the question before us. 2. ..... held that he was not a hindu undivided family for wealth tax assessment under the wealth tax act. ..... (v) of the wealth tax act arises for consideration because it is stated that the respondent has no male issue even .....

M. Sulochanamma and ors. Vs. Commissioner of Wealth-tax

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? ..... pursuant to that order, the collector had obtained a lease deed executed on may 26, 1960, and registered on may 31, 1960, and, thereafter, the annexure 'a-3' dated june 30, 1960, was passed. ..... . sri dasaratharama reddy, appearing for the assessees, realising this difficulty, had to concede that the provisions of section 4(1)(a)(ii) are similar and analogous to those of section 16(3)(ai) or (b) of the re-framed section pointed out by the supreme court in sodra qevi's case but laid stress on the use of the words 'as belonging to him' in section 4(1) so as to connote the expression 'individual' to only a malebut not a female ..... rama rao appearing for the revenue contending, inter alia, that on the valuation dates for the assessment years 1957-58, 1958-59 and 1959-60, the order reducing the period of 30 years lease to 21 years passed by the controller of mining leases was in fact not passed and for the assessment year 1960-61, the renewal for another 20 .....

G.A. Parashuram Vs. Commissioner of Wealth-tax

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. ..... as explained by us hereinbefore, the proviso merely says that where the transfer of the assets is either chargeable to gift-tax under the gift-tax act or is not chargeable under section 5 of the said act, for the assessment years 1964-65 to 1971-72 (both inclusive), the value of such assets shall not be included in computing the net wealth of the individual. ..... ' on the relevant date, the proviso read as follows : '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 chargeable under section 5 of the act, for any assessment year commencing after the 31st day of march, 1964, the value of such assets or part thereof, as the case may be, shall not be included in computing the net wealth of the individual.' 7. .....

Commissioner of Wealth-tax Vs. Bargah-e-fatima Wakf

Court : Andhra Pradesh

Reported in : [1995]216ITR546(AP)

..... 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) ..... 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 ..... 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. ..... wealth-tax officer disallowed the claim for exemption, completed the assessment and assessed tax as specified in part i of schedule i to the wealth-tax act ..... 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 under section 25(2) and consequential appeal to the income .....

Tulsidas Bolumal Vs. Commissioner of Income-tax

Court : Andhra Pradesh

Reported in : (1988)67CTR(AP)4; [1988]170ITR1(AP)

..... 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. ..... 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 ..... from the converted property that fell to the share of the assessee as well as the property itself are liable to be assessed in the hands of the assessee as an individual not by the application of the provisions of section 64(2) of the income-tax act and section 4(1a)(c) of the wealth-tax act but by operation of the general principles of hindu law we have set out above. ..... on the facts stated above, neither of the provisions, namely, section 64(2) of the income-tax act and section 4(1a)(c) of the wealth-tax act, come into operation in the present case after partition of the ..... the appellate assistant commissioner held, while disposing of the wealth-tax appeals, that after partition of the converted properties, section 4(1a)(c) of the wealth-tax act is applicable and in accordance with the provisions contained therein, only the converted property which fell to the share of spouse or minor child can be deemed to be the property of the individual, who .....

Commissioner of Income-tax Vs. Satishchandra Modi

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. .....

Ali Asghar Ceizar Vs. the Commissioner of I.T.-vi

Court : Andhra Pradesh

..... knock away the property; the said property was sold to m/s.nagarjuna construction company limited; the second respondent initiated proceedings under the wealth tax act, 1957, (hereinafter referred to as the "act") for the assessment years 1998-1999 to 2005-2006; pursuant to the notice, he filed his return of wealth valuing the aforesaid property at rs.nil on the ground that the said property had been illegally sold away to m/s.nagarjuna construction ..... the second respondent, however, kept the demand of rs.23,28,560/-, comprising of wealth tax of rs.15,40,920/- and interest under section 17b of the act of rs.7,87,640/-, in abeyance till a final decree was passed in the civil suit in o.s.no.32 of 1999; and, thereafter, issued the impugned proceedings dated 06.01.2010 stating that the stay, which ..... for income tax, would submit that the order of assessment to the extent "the demand was kept in abeyance till the final outcome of the civil suit in o.s.no.32 of 1999" is itself without jurisdiction since the wealth tax officer has been conferred the power, under section 30(6) of the wealth tax act, only to keep the assessment order in abeyance till the appeal, either under section 23 or under section 23a of the wealth tax act, is ..... of acs.2.30 guntas of land, in municipal plot no.10 at banjara hills, hyderabad, which was purchased for him by his father sri mirza hussain ali ceizar vide sale deed dated 18.05.1965 registered with the office of the sub-registrar of khairtabad, hyderabad. .....