1980 (3) TMI 136

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....ax assessments of the value of 80 tolas of gold ornaments. 2. The assessee, Smt. Kalyani Sharma is a wealth-tax assessee. The appeals are for the years 1976-77 & 1977-78. The relevant valuation dates are 31st March, 1976 and 31st March, 77 respectively. In both the assessments the WTO included the value of 80 tolas of gold ornaments at a figure of Rs. 56,385 in the former assessment and at Rs. ....

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....be passed on to the sons of Smt. Kalyani Sharma. The WTO however, rejected these submissions and included the value of the ornaments treating the assessee as the owner of the gold ornaments. 3. The assessee appealed to the AAC. Before the learned AAC it was urged once again that the assessee was not the owner of the said gold ornaments and, therefore, the inclusion in the assessments of the val....

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....the statement made by the assessee. In the former it had been stated that the ornaments were to be finally given to the sons of the assessee it has been stated that the ornaments were given to the wives of the sons. In view of this contradiction the learned AAC rejected the assessee's claim and upheld the inclusion of the value of the ornaments in the assessment. 4. The assessee has come up in ....