1983 (11) TMI 151 - AT - Wealth-tax

Summary

The Appellate Tribunal ITAT Jabalpur allowed the assessee's miscellaneous application regarding the inclusion of amounts in the wealth tax assessments related to a property standing in the name of the assessee's wife. The Tribunal omitted a submission by the assessee that the property had been gifted to the wife, leading to a mistake in the records. The Tribunal changed a paragraph in its order to reflect that the amounts standing to the credit of the wife in the bank account were gifted and should not be included in the wealth tax assessments from the year 1971-72 onwards. The miscellaneous application was allowed.