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TMI Blog1980 (7) TMI 137X X X X Extracts X X X X X X X X Extracts X X X X ..... nd for the sake of convenience, we are disposing of the appeals by way of this common consolidated order. 2. In the case of Shri Sajjan Kumar Sikaria (WTA Nos. 239 and 240 (Gau) of 1970), the wealth returned for the assessment years under appeal was Rs. 56,840 and Rs. 59,980 as against the wealth assessed which stood at Rs. 1,47,180 and Rs. 1,67,650 respectively. The valuation of share in the hands of the assessee i.e. share of property of Shri Kamakhya Rice Mills Trust has been taken as 'protective measure' without any details or discussion. The assessee has shown the valuation of jewellery at Rs. 3,000 for both the assessment years which has been assessed at Rs. 10,000 for the asst. yr. 1973-74 and at Rs. 15,000 for the asst. yr. 1974-75 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessed wealth stood at Rs. 3,25,079 and Rs. 3,82,055. The valuation of the share from Shri Kamakhya Rice Mill Trust, which has been taken as 'protective measure' as also the claim made by the assessee under s. 5(1)(xxxii) of the Act, and with regard to tax liability has met the same fate with the same reasoning and the same comments as in the case of Shri Ramgopal Sikaria (WTA Nos. 241 and 242 (Gau) of 1979). The assessee has declared the value of jewellery for the asst. yr. 1973-74 at Rs. 88,655 as on 24th Oct., 1973, whereas in computing the net wealth of the assessee it has been estimated at Rs. 60,000. For the asst. yr. 1974-75, the valuation of jewellery declared by the assessee at Rs. 96,655 has been accepted at the same figure. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... facts as the back-ground, the assessees naturally falt aggrieved and preferred appeals and at the hands of the AAC of WT the assessees got the following reliefs: In the case of Sajjan Kumar Sikaria (WTA Nos. 239 and 240 (Gau) of 1979) reduction in the valuation of jewellery being relief of Rs. 2,000 for the asst. yr. 1973-74 and Rs. 3,000 for the asst. yr. 1974-75. The order of the WTO in respect of other items and issues was upheld. In the case of Ram Gopal Sikaria (WTA Nos. 241 and 242 (Gau) of 1979) no relief on any score, but a direction to the WTO for obtaining details as be required by him from the assessee regarding the claim of the assessee made under s. 5(1)(xxxii) of the Act. In the case of Smt. Gayatri Devi Sikaria (WTA Nos. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... haradwaj, further contended that the valuation of the alleged share of property in the property of Kamakhya Rice Mills Trust could not have been added in the hands of the assessees in a 'blanket way'. He has assailed the orders of the lower authorities on the score of taking of the valuation of jewellery on estimate basis, since the estimates have not been on any fact or material, much less any congent evidence. As regards claim of exemption under s. 5(1)(xxxii) of the Act, since made by the assessees, Shri Bharadwaj contended that the claim has not been properly discussed, but the AAC has directed the WTO to re-hear and re-decide this fact of the case on merits and in accordance with law and in the light of these observations of the ld. AA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , has been taken without any reasoning, discussion or details and on the stated facts of the assessees cases the taking of the valuation in a 'blanket' manner was not called for; the orders of the lower authorities on the above score being not speaking orders, more so the valuation having been taken on the basis of borrowed findings from other files, we are of the view and, accordingly do hold that this facet of the case in the cases of all the assessees merit to be decided afresh in accordance with law, as such we do set aside the order of the lower authorities on this score and restore all the cases to the files of the WTO with the specific directions that this facet of the cases viz; taking of share of property of Shri Kamakhya Rice Mill ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erits and in accordance with law, of course, after giving reasonable opportunity of being heard to the assessees to substantiate the claim made by them. We cannot usefully add anything to the above directions, as such this facet of the cases in the cases of the assessees which already stands restored to the WTO calls for adjudication or else directions at our level. 14. As regards the claim of the assessees in lieu of deduction relating to liabilities viz, income-tax and wealth-tax liabilities, we do respectfully and usefully quote their Lordships of the Supreme Court in the case of Kesoram Industries and Cotton Mills Ltd. vs. CWT (Central) Calcutta (1966) 59 ITR 767 (SC). "Held by Subba Rao and Sikri JJ. Shah J. Dissenting): (i) that the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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