1978 (7) TMI 175

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..... Rs. 3,978 and Rs. 2,984 imposed by the WTO u/s 18(1)(a) of the WT Act for the asst. yr. 1969-70, 1970-71 & 1971-1972. When the appeals were taken up for hearing the assessee did not appear. We, therefore, proceed to dispose of the appeals after hearing the learned Departmental Representative and after perusing the records of the case. We find that the assessee filed the WT returns for the asst. yr .....

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..... 01, Rs. 48,294 and Rs. 48,034 respectively. If the above amounts are excluded the assessee's wealth would not be liable to wealth-tax. The assessee had pleaded before the WTO as well as before the AAC that he was under the bonafide belief that the life interest aforesaid is not includible in the net wealth of the assessee and that his other wealth would not be liable to wealth-tax being less than .....

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