TaxTMI 
TaxTMI 
1980 (6) TMI 65
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....movable properties. She has also not declared any movable property. The assessee also filed returns of her wealth for the asst. yr. 1966-67 to 1971-72. No return for the asst. yr. 1972-73, 1973-74 and 1974-75 was filed. 4. In all the returns, immovable properties similar to that as were shown and declared by the assessee in her return of wealth for the asst. yrs. 1965-66 and 1966-67 were declared as assets but the returns filed by the assessee for the asst. yrs. 1970-71 and 1971-72 were revised later on and another asset i.e., agricultural land since valued by the assessee at Rs. 64,100 was declared. 5. Notices under s. 17 of the WT Act remained uncompelled with, despite valid service, for the asst. yrs. 1972-73, 1973-74 and 1974-75. 6. The WTO has passed a speaking order for the asst. yr. 1965-66 only and the order for the remaining assessment years were based on the observations, findings and conclusions arrived at in the order for the asst. yr. 1965-66. 7. Assessment were framed for the asst. yrs. 1965-66 to 1971-72 under s. 16(3) of the Act, while for the asst. yrs. 1972-73 to 1974-75 were framed under s. 16(5) r/w s. 17 of the Act. 8. For the asst. yr. 1965-66 t....
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....f hotel building transferred by the assessee to North Eastern Hotel (P) Ltd., while for the asst. yr. 1974-75 immovable property was assessed at Rs. 1,30,000 assets in lieu of advance for shares in North Eastern Hotel (P) Ltd. At Rs. 2,10,000 and the investment in construction of hotel as above at Td. 1,09,000. Movables were assessed at Rs. 5,000. 12. Dwelling house was declared to be exempt since the value was thought to be less than Rs. 1,00,000 (precisely it was valued at Rs. 50,000 for the asst. yr. 1970-71). This exemption was granted to the assessee for all the assessment years under appeal. 13. Further exemption was granted in lieu of agricultural land which was declared by the assessee at Rs. 64,100, but valued by the Revenue at Rs. 96,000, for the asst. yrs. 1970-71 to 1974-75. 14. With these material and admitted facts as a back-ground the assessee having felt aggrieved, appeals were preferred and on behalf of the assessee it was contended before the AAC of WT, Gauhati Range, Gauhati as under: (i) That there was no surplus land after sale of 6 kathas of land since the entire property was comprised of 6 kathas and not 6 kathas and 10 1/2 lachas, as such the WTO....
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....t entitlement for the exemption. 16. The assessee as yet being aggrieved, as come up in second appeal, as such we are seized of the matter. 17. Before us Shri H.Khaund, F.C.A. the authorised representative of the assessee has contended on the same lines as was contended on behalf of the assessee before the AAC. He has supplemented his contentions by arguing that the WTO has had no basis much less any material or evidence with him to take the wealth of the assessee at the figures he has taken for the relevant assessment years and, accordingly, these merit to be quashed He further contended that the AAC has not only misconceived the facts but has based his order on conjectures and surmises which should not stand to reason. 18. On his part, Shri R.C. Joshi, the ld. Deptl. Rep. has contended that the assessee in this case has never co-operated and her attitude was all along non-cooperative in the mater of furnishing of details as to the assets, hence the assessments made by the WTO and sustained by the AAC merit to be upheld. Shri Joshi further pointedly brought to our notice the findings of the WTO as are found out in the assessment order for the asst. yr. 1965-66 as to the W....
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....ss rentals, but on the facts of the assessee's cases in appeal before us, the WTO has estimated the valuation of the said property and has taken the valuation figure, high, higher and still higher from year to year, taking it as appreciation in the value of the property. 23. As regards the land at Satgaon, the WTO has treated it as an urban asset and not as an agricultural land though proper enquiries could have been made from the Revenue authorities and natural justice demanded it. The AAC has justified the action of the WTO with the reasoning that proper supporting evidence as to the land being agricultural land was not produced by the assessee. 24. As regards movables, the assessment order for the asst. yr. 1965-66 speaks of the Bank account, but for reasons best known to the WTO, the closing balance for 31st March, 1965 and 31st March, 1969 have been mentioned, whereas the movables have been assessed as an assets right from the asst. yrs. 1965-66 to 1974-75, though the figures are variated. 25. The reading of the assessment order for the asst. yr. 1965-66 reveals that the order is more in the nature of best judgment than that of regular assessment and a speaking order ....