Per Shri S.K.Chander, Accountant Member - These appeals are directed against the various orders made by the AAC on 28-1-1982 relating to the assessment years 1969-70 to 1975-76. In order to project the issues and grievances of the assessee juxta position the factual background of the case, we record the facts which are relevant for their determination. - (1.)
(2.) Late Shri Ardaman Singh of village Bagria, advanced a sum of Rs. 1,43,573 to his daughter Smt. Harinder Kaur. He also advanced to his son-in-law, Darshan Singh Chawla, husband of Harinder Kaur, a sum of Rs. 22,992 on 10-2-1965. When these amounts were advanced, no documents as such were executed by way of promissory notes, etc. After these advances were given, there was no recovery. Thus, before any recovery could be effected. Darshan Singh Chawla, died on 31-8-1972. the limitation for recovery of the loan in both the cases had expired on 10-12-1968. Shri Ardaman Singh died on 25-12-1976. But during his lifetime in the year 1966-67, he had advanced a sum of Rs. 15,970 to Delhi Land & Finance Co. Ltd. It appears, there were further advances to this company and by the end of the financial year 1966-67, i.e., on 31-3-1967, the amount advanced to the abovesaid company was Rs. 37,937. This was for purposes of a purchase of plot of land from the said company. This figure has been rounded off to Rs. 38,000 and shown as advance given to the said company.
(3.) FOR the assessment year 1969-70, original assessment was made on 24-3-1979 in which net wealth of the assessee was computed at Rs. 7,34,610. FOR the assessment years 1970-71 and 1971-72 the original assessment was completed on 29-3-1979. FOR the assessment years 1972-73 to 1975-76 original assessments were completed on 31-3-1979. All these assessments were under section 16(3) of the Wealth-tax Act, 1957 (the Act). However, the assessee filed appeals for all the abovementioned assessment years before the AAC, on account of various additions made to the net wealth declared for each of the assessment years concerned. The AAC after taking into consideration the submissions made before him by the learned counsel for the assessee, set aside the assessments years 1969-70 to 1975-76 vide order dated 11-4-1980 with the directions that these be made de novo in accordance with law after taking into consideration the contentions raised before him which were communicated to the WTO. The impunged assessment now made are as a consequence of the above directions issued by the AAC.;