SHANKAR GHOSH Vs. WEALTH TAX OFFICER

JUDGEMENT

(1.) These 9 appeals by the assessee for the assessment years 1974-75 to 1981-82 are directed against the consolidated order of the Deputy Commissioner of Wealth Tax (Appeals) dated 23-3-1990. The inclusion of value of certain jewellery in the wealth of the assessee in all the aforesaid years has been challenged on the ground that the jewellery in fact belonged to assessee's daughter and was her wealth.

(2.) The jewellery which is subject matter of dispute was found in Locker No. 84 in the name of assessee's daughter Miss Amrita Ghosh with Allahabad Bank, Alipore Branch, Calcutta during the course of the search operation carried by the revenue in July, 1974. The assessee in order to cover jewellery's acquisition, made a disclosure under the Voluntary Disclosure of Income and Wealth Ordinance, 1975. Taking note of above disclosure, the Wealth Tax Officer added value of the jewellery in the wealth of the assessee.

(3.) The assessee challenged the above additions in appeal before the Deputy Commissioner (Appeals) and contended that the value of jewellery should be excluded from the wealth assessed as the same was gifted to the assessee's daughter earlier to 1972. The learned Deputy Commissioner (Appeals) rejected the above contention and justified inclusion of jewellery with the following pertinent remarks