1983 (2) TMI 66

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..... erroneous. The Commissioner has sought to revise the wealth-tax assessment order, passed by the WTO dt. 7th December 1979. According to the Commissioner, the WTO did not go into the question of the valuation of interest of the assessee in Preet Palace Theatre, Ludhiana. The assessee was one of the share holders of the firm, which held Preet Palace Theatre, Ludhiana, as one of its assets. Accordin .....

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..... eason, could not be maintained. From the papers, brought on record, it appears that the WTO had made the first order on 8th March 1978, wherein she had accepted the valuation of his interest in the partnership firm, which held Preet Palace theatre as one of the assets and of which the assessee was one of the partners. The latter return, filed by him on 31st May 1979 included in the net wealth of t .....

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