1990 (8) TMI 127

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..... under section 27(1) of the Wealth-tax Act, 1957 (hereinafter referred to as "the Act") : "Whether, on the facts and in the circumstances of the case, the Tribunal was correct in holding that the Wealth-tax Officer could not rectify his assessment orders under section 35 of the Wealth-tax Act consequent to the amendment under section 5(1)(viii) of the Wealth-tax Act with retrospective effect ?" .....

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..... ment under section 35 of the Act and included the value of jewellery in the order of assessment. Aggrieved by the order passed by the Wealth-tax Officer, the assessee preferred appeals which were dismissed by the Appellate Assistant Commissioner. On further appeal before the Tribunal, the Tribunal held, relying on a judgment of the Bombay High Court in the case of J. M. Shah v. J. M. Bhatia, AA C .....

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..... s not right in holding that the order of rectification passed by the Wealth-tax Officer was not justified. My answer to the question referred by the Tribunal is, therefore, in the negative and against the assessee. In the circumstances of the case, parties shall bear their own costs of this reference. Let a copy of this order be communicated by the officer of this court to the Assistant Registrar .....

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