(1.) THE assessee purchased in 1955 a house property at Malleswaram in Bangalore, from the widow of one Rajawade for a sum of Rs. 25,000. This consisted of one bungalow and three out-houses, measuring in all 3,500 sq. yards. THE property is mutated in the assessee's name in the municipal register. THE assessee could not take possession of the property as the occupant, claiming herself to be the second wife of Rajawade, questioned the sale of property by the first wife. THE assessee could not realise any rent from the person ocupying the properties. When the wanted to evict the tenants, a suit was filed in the District Court. THE assessee contested it and it was decided in assessee's favour on January 30, 1962. An appeal has been filed in the High Court by the other party.
(2.) IN the wealth-tax return for the valuation date of March 31, 1961, the assessee showed a sum of Rs. 25,000 as advanace against the purchase of this property.
(3.) THE Wealth-tax Officer did not accept the contention of the assessee. He put the market value of the property at Rs. 70,000. A copy of the assessment order is annexure "A", and forms part of the case.