COMMISSIONER OF WEALTH TAX Vs. S D JADEJA

JUDGEMENT

(1.) The Income Tax Appellate Tribunal, Ahmedabad Bench 'A' has referred the following question under Section 27(3) of the Wealth Tax Act,1957 (the Act) at the instance of the Commissioner of Wealth Tax, Rajkot.

(2.) The Assessment Years are 1976-77 and 1977-78. The relevant valuation dates are 31.3.1976 and 31.3.1977 respectively. In the return of net wealth filed on 7.2.1981 the benefit of valuation in respect of self occupied house property was claimed by the assessee only in respect of Muff Villa, Jammnagar. During the course of assessment proceedings the said claim was revised vide letter dated 25/3/1982 and the assessee claimed that the self occupied property consisted of Muff Villa & Queen Villa together. The Wealth Tax Officer rejected the claim as an afterthought. He further held that both the house properties were quite distinct and separate and they had been treated separately all along as per the past record of the assesee. Therefore, on the basis of the Proviso to section 7(4) of the Act the Assessing Officer restricted the benefit only in respect of Muff Villa.

(3.) The assessee carried the matter in appeal before Commissioner of Wealth Tax (Appeals), who vide his order dated 3/12/1984 upheld the orders of the Assessing Officer on the ground that the point had also been considered in earlier years and the plea of the assessee had been rejected.