S.K. Chander, Accountant Member - (1.) THESE cross appeals by the assessee and the revenue are heard together and are being disposed of by a consolidated order for the sake of convenience. The assessment years involved are 1970-71 to 1975-76 both inclusive. For these years, return of net wealth from the assessee was due on or before 30th day of June of the relevant assessment years. However, returns under Section 14(1) of the Wealth-tax Act. 1957 ('the Act') were not filed on due dates. The assessee was not assessed to income-tax. The assessee, who is an individual and a Muslim is a widow, and a pardanashin lady. She is illiterate. She had only one child--a daughter. She earned her livelihood from agricultural land being looked after by her servants.
(2.) The agricultural land admeasured 23 bighas 5 biswas which was acquired later. Besides this, she had 6 biswas of land which was not acquired. It appears compensation of Rs. 2,93,142.60 was paid as shown at page 32 of the paper book. Besides, this assessee received interest and solatium. There was an award on 21-3-1975 for all this. She received Rs. 2,11,954 on the date of award itself. There were also payments made subsequently. She received final payments in January 1977. On 7-1-1977, she filed returns of her net wealth for all the assessment years under appeal voluntarily. Till then no notice under Section 14(2) or under Section 17 of the Act had been issued to the assessee. The net wealth returned was Rs. 2,29,400, Rs. 2,29,600, Rs. 3,08,496, Rs. 2,98,800, Rs. 2,98,800 and Rs. 3,30,720, respectively for the assessment years 1970-71 to 1975-76. The returns for the assessment years 1970-71 to 1974-75 were revised on 15-2-1977 as recorded in the impugned assessments made for these years on 24-2-1977. The revision of the returns upwards was explained to the WTO as per letter at page 4 of the paper book.
(3.) AFTER the revision of the above returns, the WTO issued notice under Section 17 for the assessment years 1973-74 and 1974-75 on 17-10-1978. In response to this notice, the assessee filed the returns for these two years on 10-9-1979 simultaneously. The net wealth returned was Rs. 3,47,200 and Rs. 3,47,350 respectively. Assessments under Section 17 were completed on 12-9-1979. Assessment orders made under Section 17 read with Section 16(3) of the Act for these two years appear at pages 21 to 24 of the assessee's paper book. The assessment orders, in fact, as recorded by the WTO himself show that the assessee herself brought to the notice of the WTO that the value of plot at Udaipur Khas had been shown at Rs. 84,000 earlier but should be taken at Rs. 98,000 as awarded by the Housing Board on 21-3-1975. Since the returns filed by the assessee earlier and the letter written to the WTO had indicated this earlier than the reassessment proceedings, assessment orders, therefore, do not include any directions about initiation of penalties for concealment.;