9911796707
TMI Blog1985 (3) TMI 34X X X X Extracts X X X X X X X X Extracts X X X X ..... and Wealth Ordinance, 1975 (Ordinance No. 15 of 1975) (hereinafter referred to as " the Ordinance "). The Wealth-tax Officer, however, initiated proceedings against the assessee for imposition of penalty and passed separate orders imposing penalty on the petitioner in respect of the aforesaid assessment years. Against these orders, the assessee preferred appeals before the Appellate Assistant Commissioner. These appeals were, however, dismissed by a consolidated order dated January 12, 1981. The matter was taken up by the assessee in further appeals before the Income-tax Appellate Tribunal, Allahabad (Bench B). Those appeals were allowed by the Tribunal by its order dated October 25, 1982. The Commissioner of Wealth-tax thereafter made thes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t difficult to agree with this submission. Section 15 of the Ordinance is the relevant section which deals with voluntary disclosure of wealth. It does not contemplate the acceptance by a specific order of the voluntary disclosure made by the assessee. The requirement of the said section which is relevant for the disposal of these applications was that voluntary disclosure could be made on or after the date of commencement of the Ordinance but before the first day of January, 1976, by any person and that such disclosure had to be in the form of declaration in respect of (a) the net wealth chargeable to wealth-tax for any assessment year for which he has failed to furnish a return under section 14 of the Wealth-tax Act ; or (b) the value of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been pointed out above, we are of the opinion that it is not possible to hold that the view taken by the Tribunal in this behalf is incorrect. The assessee, in view of the fact that he had complied with the requirements of section 15 of the Ordinance and in view of the order passed by the Wealth-tax Officer quoted above, was entitled to the immunity from imposition of penalty as held by the Tribunal. It is in this view of the matter that we are of the opinion that no question of law arises out of the appellate order of the Tribunal so as to require the Tribunal to refer that question to this court for its opinion. In the result, all these applications are dismissed. The assessee will be entitled to one set of costs of Rs. 125. - ..... X X X X Extracts X X X X X X X X Extracts X X X X
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