WEALTH TAX OFFICER Vs. OM PARKASH

JUDGEMENT

(1.) THE present revision petition has been filed by the Wealth Tax Officer, Ward-A, Sirsa, challenging the order dated October 12, 1992 passed by the learned Additional Sessions Judge, Sirsa, whereby the order dated November 26, 1990 passed by the Chief Judicial Magistrate, Sirsa has been set aside.

(2.) THE petitioner-Wealth Tax Officer filed a complaint under Sections 35-A and 35-B of the Wealth Tax Act, 1957 regarding the assessment year 1980-81 against the present respondent Om Parkash. It was stated in the complaint that Om Parkash as Karta of Hindu Undivided Family was a wealth tax assessee and was assessed under the provisions of Wealth Tax Act, 1957. It was further stated that on July 17, 1980 Om Parkash had filed a wealth tax return as karta of Hindu Undivided Family as well as statement of wealth as on March 31, 1980 for the assessment year 1980-81 and had signed the aforesaid return in token of its correctness. In this return he showed his net wealth in the sum of Rs. 1,28,453/- after claiming certain exemptions and deductions. On July 9, 1982 a revised wealth tax return dated July 1, 1982 was filed. A statement of wealth as on March 31, 1980 declaring his net wealth of Rs. 1,14,483/- after claiming exemptions and deductions accompanied the aforesaid revised return.

(3.) ON that basis the Wealth Tax Officer had found that the assessee had concealed his wealth from the department. It was further stated in the complaint that during the course of assessment proceedings, the Wealth Tax Officer had found that the assessee had not declared a sum of Rs. 10,500/- which was the loan advanced to Sh. A.K. Jain in the original return whereas the same was declared in the revised return. The Wealth Tax Officer on further enquiry found that assessee had transferred 81 kanals 2 marlas of land in the name of his wife Smt. Raj Kumari in the year 1971 through a civil court decree dated December 20, 1971. In fact the aforesaid land belonged to Hindu Undivided Family. Smt. Raj Kumari sold the said land and deposited the sale proceeds thereof with M/s Attam Ram Om Parkash. She purchased land measuring 25 kanals 19 marlas on July 27, 1976 for a sum of Rs. 28,600/- from the funds which were available with her as aforesaid. On that basis, it was maintained by the complainant that assessee had not shown or declared the aforesaid wealth in his original and revised returns. The Wealth Tax Officer also found that the assessee had shown the value of the land measuring 110 kanals 11 marals at Rs. 1 lac, though the value of the same was taken at Rs. 10,000/- during the assessment proceedings in the year 1979-80.