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TMI Blog1977 (11) TMI 81X X X X Extracts X X X X X X X X Extracts X X X X ..... 35 of the WT Act, 1957. 2. The assessee had been filing his income-tax returns in the status of 'individual' right from the asst. yr. 1961-62 to 1971-72 and he was also assessed to income-tax in the same status. However, for the wealth-tax asst, yrs. 1959-60 to 1971-72, the assessee filed his wealth-tax returns and declared the status of 'HUF' in these returns. The WTO completed all these assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... provisions of s. 35 of the WT Act, 1957. 3. Against the order passed by the WTO the assessee preferred appeals before the AAC and contended that since the WTO did not discuss the question of status in the assessments framed by him, the status of individual adopted in the assessment orders for these years was a mistake apparent from the records and should be rectified u/s 35. It was also pleaded ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hout assigning any reasons whatsoever or discussing the issue in the assessment order, the WTO assigned the status of individual and hence, this was a clear mistake apparent from the record and should have been rectified u/s 35. It was also submitted that in the assessment for the year 1974-75, the status of the assessee in the wealth-tax has been accepted by the WTO as HUF and hence in these circ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he status of HUF. In our opinion, there is considerable force in the contention of the ld. Counsel, particularly in view of the fact that the principles of estoppel and res judicata do not apply to the Income-tax and Wealth-tax proceedings. So far as the wealth-tax proceedings are concerned, the assessee declared his status as 'HUF' and filed the returns of net wealth for the years 1959-60 to 1971 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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