2009 (4) TMI 181

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....nt of the court was delivered by 1. F. I. REBELLO J. - This petition is against the notice dated March 29, 1987, whereby the Wealth-tax Officer has issued a notice under section 17 of the Wealth-tax Act, 1957, on the ground that he has reason to believe that the net wealth chargeable to tax for the assessment year 1978-79 has escaped assessment. 2. The petitioner on receipt of the notice by ....

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..... By order dated August 7, 1984, the Commissioner (Appeals) was pleased to allow the appeal and directed respondent No. 1 to redetermine the value of the shares. The Revenue aggrieved by the order of the Commissioner (Appeals) preferred an appeal before the Income-tax Appellate Tribunal. The learned counsel informs that the appeal has been dismissed. 4. At the hearing of this petition on behalf....

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....tentions have been raised. 5. Our attention is also invited to an order passed by this court in Writ Petition No. 3364 of 1987, decided on February 6, 2002, in the case of very same assessee under the Gift-tax Act on the issue of reasons to believe. 6. No reply has been filed by the respondents denying the averments. 7. In the first instance, there is no material before us as to whether t....