Law: Wealth Tax Act, 1963

Section: 10(5),14(2),15,16(2),16(3),17,17(2),22(2 ),34

Law: Income Tax Ordinance, 1979

Section: 56,65

Wealth Tax Act (XV of 1963)——Ss. 16(3), 17 27—Wealth tax assessment—Jurisdiction—Principle of redundancy—Applicability—Valuation date previous to previous year—Dispute was with regard to non-filing of wealth tax return by assessee for year previous to previous year—Assessing Authority imposed tax and additional which were annulled by Income Tax Appellate Tribunal—Validity—Authorities were not vested with power or authority to issue notice under S.14(2) of Wealth Tax Act, 1963 but was fully empowered by that time, to have issued notice under S. 17 of Wealth Tax Act, 1963, which was not done—Intention of the Legislature was to call for return of networth of a person as on valuation date of previous year, under the provision of S.14(2) of Wealth Tax Act, 1963 and for the year previous to the previous year, under S.17(2) of Wealth Tax Act, 1963—Authorities could not be permitted to issue notice under S.14(2) of Wealth Tax Act, 1963 for previous to the previous year, where wealth was escaped assessment as provision of S. 17 of Wealth Tax Act, 1963 would become redundant— Both the provisions of law catered and dealt with two different situations and no redundancy could be attributed to law—High Court declined to interfere in the order passed by Income Tax Appellate Tribunal—Appeal was dismissed, in circumstances. Aftab Shaban Mirani v. Muhammad Ibrahim PLD 2008 SC 779 and Collectorate of Sales Tax and Central Excise Enforcement and another v. Mega Tech (Pvt.) Ltd., 2005 SCMR 1166 rel. JUDGMENT: IRFAN SAADAT KHAN, JUSTICE:---.--- This Wealth Tax Case (WTC) was filed impugning the order dated 29.5.2000 passed by the Income Tax Appellate Tribunal (ITAT) in ITA No.286/KB/2001 pertaining to the assessment year 1997-98 by raising a number of questions. However, this Court vide order dated 01.09.2005 admitted the following questions only for consideration. “Whether on the facts and circumstances of the case the learned ITAT was justified to annul the assessment order passed u/s.16(3) of Wealth Tax Act, 1963 on the basis that notice u/s 17 was not issued.” “Whether on facts and circumstances of the case, the learned ITAT was justified in holding that the jurisdiction of…

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