Law: Wealth Tax Act, (XV of 1963)

Section: 24

Wealth Tax Act (XV of 1963)---S.24---Stay---Grant of ---Assessee had agreed to pay 15% of the total demand for grant of stay for the relevant assessment years---Appellate Tribunal granted stay of demand on the payment of said, 15% of the total demand-Proof of payment was to be shown to the. Registrar---Stay will operate from the date of such payment till the date of hearing. ORDER SYED KABIRUL HASAN (JUDICIAL MEMBER).---In these four wealth tax appeals, the assessee has filed these applications for stay of demand. 2. Mr. Abdul Tahir, learned A.R. of the applicant/assessee, has submitted that the assessee is the owner of a Tanker and Toyota Car. The Tanker purchased was of 1973 Model and its value has become nil in 1997 considering the depreciation of 15 years. As regards Toyota car, he was submitted that it was…

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