Law: Wealth Tax Act, 1957

Section: 19

Section 19 of the Wealth-tax Act, 1957 - Executors - Liability of - Assessment year 1961-62 - One 'S' died on 5-10-1959, leaving behind a large estate amounting to about Rs. 9 lakhs - Petitioners were appointed joint executors under will - For financial year ending on 31-10-1959, i.e., assessment year 1960-61, petitioners as executors were assessed to pay wealth-tax in respect of estate left by deceased and there was no dispute between parties as regards said assessment - For next financial year expiring on 31-10-1960, i.e., assessment year 1961-62, WTO served on executors a notice under section 14(2) requiring that a return should be filed in connection with wealth-tax payable by estate of deceased - Petitioners filed return in response to said notice and assessment was made by WTO - Subsequently, petitioners filed revision petition before Commissioner contending that assessee ('S') was not living after 5-10-1959, and there could be no assessment on deceased individual - It was further submitted that for assessment year in question, petitioners were not liable to pay any wealth-tax in respect of estate left by deceased - Commissioner, however, held that assessment made by WTO was in order - Whether, on facts, executors of will of late 'S' could not be made liable to pay wealth-tax under section 19 which was relevant section to pay wealth-tax in respect of estate of deceased in their hands except for financial year expiring on 31-10-1959 - Held, yes - Whether since impugned assessment was levied in respect of next financial year (i.e., assessment year in question) that was not justified and illegal having regard to provision of Act - Held, yes FACTS Smt. S died on 5-10-1959, prior thereto executing her last will dated 8-4-1959. The petitioners were the joint executors appointed under that will. The deceased left a large estate amounting to about Rs. 9 lakhs and odd. For the financial year expiring on 31-10-1959, i.e., the assessment year 1960-61, the petitioners as executors were assessed to pay wealth-tax in respect of the estate left by the deceased and there was no dispute between the parties as regards that assessment. For the next financial year expiring…

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