Law: Wealth Tax Act, 1957

Section: 27(1),18(1)(a),16(3),23

Wealth tax-----Assessment---Procedure---Computation of net wealth and tax payable need not be done in same sheet of paper---Sum payable calculated on a separate sheet of paper which was signed by Assessing Officer on same date on which order computing net wealth was signed by him---Assessment order was valid---Indian Wealth Tax Act, 1957; S.16. It will be sufficient compliance with the requirements of section 16(3) of the Wealth Tax Act, 1957, if the tax payable is also calculated and the Assessing Officer approves the same by putting his signature thereon. It is immaterial whether the calculation is made on the same sheet of paper on which the net wealth has been assessed or on a separate sheet of paper. Once the Assessing Officer signs both the sheets, that is, the assessment order sheet and the tax calculation sheet, the assessment process is complete in accordance with the requirements of section 16(3). Held, that, in the instant case, there was no dispute about the fact that the tax payable had been duly calculated on a separate calculation sheet, which was signed by the Wealth Tax Officer on the same date on which the order computing the net wealth was signed by him. The assessment order was valid. Kalyankumar Ray v. C.I.T. (1991) 191 ITR 634 (SC) applied. C.W.T. v. Jawahar Lal Mehra (2000) 246 ITR 603 (J&K) fol. Mubarik Shah Naqshbandi (S.) v. C.I.T. (1977) 110 ITR 217 (J&K) distinguished. (b) Wealth tax----- ---- Appeal to Appellate Tribunal---Assessment---Penalty---Competency of appeal---Validity of assessment order cannot be challenged in appeal against order of penalty---Indian Wealth Tax Act, 1957, S.23. The scope and ambit of an appeal against an order of penalty is confined to the levy of penalty. In such an appeal, the validity of the assessment order, which has attained finality, cannot be challenged. The Tribunal cannot consider the challenge to the validity of the assessment order, which has become final 2nd conclusive, in an appeal against the order of the Appellate Assistant Commissioner passed on an appeal against an order of penalty under clause (d) of section 23(l): Held, (i) that the Tribunal was not right in law in cancelling…

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