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1979 (1) TMI 137
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....ncome-tax liability of Rs. 89,790. In the assessment order, the WTO determined the value of the net wealth of the assessee. He also included the value of ornaments under the disclosure scheme amounting to Rs. 1,91,940. the income-tax liability of Rs. 89,790 was not given, which arose out of the voluntary disclosure made by the assessee before the CWT. The AAC directed to allow the deduction, on ap....
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....lth disclosed was considered in the computation of wealth of the assessee. The authorised representative of the assessee supports the order of the AAC. 4. We have given our consideration to the contentions of both the sides. We find that the value of Rs. 1,91,940 in respect of ornaments disclosed under the disclosure scheme was included in the net wealth of the assessee for the above year under....