Law: Wealth Tax Act, 1957

Section: 16,7(2)(a),25,17,23(3A),17(1)(a)

Law: Wealth Tax Rules, 1957

Section: 2,2A,2E(2)

Wealth Tax--- ----Reference---Reassessment---Remand---Reassessment proceedings initiated---Tribunal remanding matter to AAC directing him to find out whether the initiation of proceedings was valid--No question of law arises from order of Tribunal. Held that the Tribunal had not recorded a categorical finding as to whether the initiation of the proceeding under section 17(1)(a) of the Wealth Tax Act, 1957, was valid or not or whether the Wealth Tax Officer had jurisdiction in the matter. The matter had only been remanded and the entire question was open before the Appellate Assistant Commissioner. No question of law arose from the order of the Tribunal. Bijoy & Co. v. CIT (1979) 120 ITR 64; (Raj.); CIT v. Brij Lal Lohia and Mahabir Prasad Khemka (1972) 84 ITR 273 (SC); CIT v. Grand Bazaar (1991) 187 ITR 471 (Mad.) and CIT v. Ramamurthi (L.G.) (1977) 110 ITR 453 (Mad.) ref. JUDGMENT M.B. SHARMA, J.---This order will dispose of the above number wealth-tax reference applications. Wealth-tax Reference Application No.36 of 1990 is for the assessment year 1968-69 by the Revenue in the case of L.K. Kashwal, partner of M/s. Gem Palace, M.I. Road, Jaipur. For the same assessment year, Wealth-tax Reference Application No.44 of 1990 is in respect of one Roshanlal, another partner of the said firm. Wealth-tax Reference Application No.37 of 1990 is for the assessment year 1969-70 in respect of L.K. Kasliwal, one of the partners of M/s. Gem Palace, M.I. Road, Jaipur. Wealth-tax Reference Application No.4 of the 1991 is for the same assessment year in the case of Roshanlal Kasliwal for the same firm. Wealth-tax Reference Application No. 42 of 1990 is for the assessment year 1970-71 in the case of Roshanlal Kasliwal. Wealth-tax Reference Application No. 43 of 1990 is for the assessment year 1971-72 and Wealth-tax Reference Application No. 41 of 1990 is for the assessment year 1972-73 in the case of Roshanlal Kasliwal; partner of the same firm. It will, therefore, be clear that all the above wealth-tax reference applications, though for different years and arising out of different orders made by the Income-tax Appellate Tribunal, Jaipur, are by one or the other of the…

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