S.MURALIDHAR,J. - (1.) These appeals by the Revenue are directed against a common judgment dated 29th September 2003 passed by the Income Tax Appellate Tribunal (ITAT) in WTA Nos. 180, 181, 431 and 691/Del/96 for the Assessment Years (AYs) 1989 -90, 1990 -91, 1991 -92 and 1985 -86, as well as WTA No. 286/Del/98 for AY 1992 -93.
(2.) At the outset, it must be noticed that the impugned common judgment was also passed by the ITAT in WTA No. 1/Del/98 for AY 1992 -93 in the appeal filed by the Revenue against another Assessee M/s Pawan Builders (P) Ltd., having its address at 7, Zamrudpur Community Centre, Kailash Colony, New Delhi. However, no appeal appears to have been filed by the Revenue as far as the decision of the ITAT in WTA No. 1 of 1998 is concerned.
(3.) The Respondent Assessee M/s Mohan Exports (I) Ltd. is stated to be the owner of the land and building at 8 and 9, Zamrudpur Community Centre, Kailash Colony, New Delhi. During the assessment proceedings, the Assessing Officer (AO) noted that the Assessee had not disclosed the value of the property in its total taxable wealth. In response to a query raised by the AO in that regard, the Assessee stated that the property in question had not been registered in its name and therefore in terms of the Wealth Tax Act, 1957 (WT Act) the value of the said property could not be added in computing the net wealth of the Assessee.;