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TMI Blog2009 (4) TMI 181X X X X Extracts X X X X X X X X Extracts X X X X ..... d assessment. - In our opinion, the absence of any material before us to show what is the reason to believe for the Wealth-tax Officer to issue the notice under section 17(1) the said notice would be without jurisdiction and consequently liable to be set aside. - 3365 of 1987 - - - Dated:- 20-4-2009 - F. I. REBELLO and J. H. BRATIA JJ. B. D. Damodar instructed by Kanga Co., for the petiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... return was filed on June 19, 1979. Respondent No. 1 completed the assessment of the petitioner for the assessment year 1978-79 by order dated February 24, 1983, which was received by the petitioner on March 21, 1983. The assessment was completed by respondent No. 1 under section 16(3) of the Wealth-tax Act. The petitioner aggrieved by the order passed by the Wealth-tax Officer preferred an appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... caped assessment, and (ii) he must have reason to believe that such escapement of net wealth is by reason of the omission or failure on the part of the assessee to make a return or to disclose fully and truly all material facts necessary for this assessment for the relevant year. It 16(3) the question of respondent No. 1 has reason to believe that the net wealth had escaped assessment then section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tioner nor is there any affidavit filed before this court setting out the reasons. Our attention was also invited to the judgment of the Supreme Court in the case of Madhya Pradesh Industries Ltd. v. ITO [1965] 57 ITR 637 to contend that when there is no counter-affidavit filed, the court has to accept the allegations made in the petition. In our opinion, the absence of any material before us to s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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