1981 (3) TMI 119

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....id order, the AAC disposed of appeals relating to two assessment years we are concerned with one of them. 2. 1971-72 is the assessment year concerned. Return of net wealth for the said asst. yr. was under s. 14(1) due to be filed by30th June, 1971. It was instead filed on6th Dec., 1971, i.e. after a delay of 5 complete months. After completion of assessment, the WTO initiated against the assess....

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....e of the statutory obligation in the matter of filing return of net wealth. We find that as on31st March, 1969the assessee had returned taxable netwealths for asst. yrs. 1966-67 to 1968-69. Thus, the assessee could be presumed to be aware of the provisions of s. 14(1), WT Act. Still it is difficult for us to hold that the Department discharged in the instant case the initial onus that lay on it in....

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.... figure which fell beyond the tax free slab, the assessee should be presumed to have known on30th June, 1971that he owned net wealth which was taxable. We are not inclined to agree. Revised return was filed some 3 years and 8 months after the filing of the original return and assessee's suggestion in that connection is that the revised return was filed only with the view that assessee might not ha....