A SIVASAILAM Vs. COMMISSIONER OF WEALTH TAX

JUDGEMENT

(1.) THE assessee is the administrator of the assets of his late father. THE point in dispute before the Tribunal for the assessment year 1977-78 was, as to whether the assessee as administrator was entitled to the benefit of section 7(4) of the Wealth Tax Act, 1957, for the purpose of valuing the property known as "Kalyani Mahal" which belongs to the estate of the assessee's late father, A. Anantharamakrishnan. THE assessee had valued the property at Rs. 1,49,500 as on 31-3-1971, and claimed that, that value should be adopted as on the valuation date by relying on section 7(4) of the Wealth Tax Act.

(2.) THE Wealth Tax Officer rejected the claim. He valued the building at Rs. 3,28,000 as on 31-3-1977. THE assessee's appeals proved unsuccessful. THE Tribunal held that the assessee could not be said to have used "Kalyani Mahal" exclusively throughout the period of 12 months immediately preceding the valuation date, as the assessee during that period lived elsewhere. THE assessment order shows that it was the plea of the assessee, that there were five legal heirs to his late father and that though the assessee who was the administrator did not himself live in that house, the other legal representatives did and that no part of the house was at any time let out during this period. This aspect was completely omitted from consideration by the Tribunal while deciding as to whether the house could be regarded as exclusively used for the residential purpose during the period of 12 months in that year.