9911796707
TMI Blog1992 (1) TMI 46X X X X Extracts X X X X X X X X Extracts X X X X ..... 6958 and 6959 of 1987;4342, 4343 and 4344 of 1988; 14176, 14082 and 14083 of 1989 ; 5909, 5908 and 12667, 12695, 12696, 12697, 12739 and 3071 of 1990. The petitioner held certain agricultural land. All that land was acquired. Subsequently, by due process of law under the Land Acquisition Act (hereinafter called "the Act"), the Collector offered certain amount as compensation, but this offer was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the District Court as also by the High Court in appeals was not exigible to wealth-tax as it was not the petitioner's wealth at the time of assessment in the given year. Later, the petitioner also added a claim that the amount so received as compensation in lieu of agricultural land did not change its character and was, therefore, exempt from tax. Reliance was placed by the petitioner for t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be assessed to wealth tax as the wealth of the petitioner for the year in which the acquisition took place or any subsequent years. The contention is that such wealth could be assessed only in the year when it was made available and as, states the learned counsel, was acquired by the petitioner. This contention was seriously contested by counsel for the Department. Both counsel cited authorities b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te authority to dispose of the petitioner's appeal in the light of the aforesaid discussions and after considering the authorities mentioned above. The writ petitions are disposed of without any order as to costs in these terms. In Civil Writ Petition No. 3071 of 1990, learned counsel for the petitioner stated that he had raised additional objections before the assessing authority. If that is so ..... X X X X Extracts X X X X X X X X Extracts X X X X
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