1983 (11) TMI 151

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....dated order dt. 26th Oct., 1983 disposing of the appeals of the assessee for the asst. yrs. 1966-67 to 1974-75. The mistake is said to be in connection with the finding on the accumulated balance and interest thereon in a bank account, standing in the name of the assessee's wife. The credits in the bank account are referable to the rent receivable, according to the Department from a property stand....

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.... 3. Mr. Malhotra, appearing for the assessee, submitted that at the time of hearing, it was pointed out that in the year 1971-72, the assessee had stated that the property was gifted to the wife. This statement had been accepted by the Department. For the asst. yrs. 1971-72 onwards, the value of the property was not included in the Wealth-tax assessments. These amounts have been gifted and, ther....

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....e relatable to the house property in Bombay standing in the assessee's wife name. The Tribunal in the IT appeal in ITA No. 280/Jab/79 had held that the assessee is the real owner. As a consequence of this finding, the addition of these amounts paid to the asst. yr. 1970-71 will have to be upheld. However, from the asst. yr. 1971-72, there is a different facts to be considered. This property has no....