KALPANA KHATWANI Vs. WEALTH TAX OFFICER
LAWS(CAL)-1996-7-71
HIGH COURT OF CALCUTTA
Decided on July 12,1996

KALPANA KHATWANI Appellant
VERSUS
WEALTH TAX OFFICER Respondents




JUDGEMENT

- (1.)In this appeal by the assessee, a non-resident, we are concerned with the valuation of the assessees half share in a flat at No. 2, 8th floor, Le-Papeyol Co-operative Housing Society Ltd., Mount Marry Road, Bandra (West), Bombay - 50. The flat was purchased on 8th Aug., 1990, by the assessee and her husband Mahesh K. Khatwani, who held the other half share in the flat for a price of Rs. 56 lakhs. In the return for the asst. yr. 1991-92, for the valuation dt. 31st March, 1991, the assessee returned the value of her share in the flat at Rs. 63,000 on the basis of a valuation report showing the value of the entire flat, at Rs. 1.26 lakhs. From the copy of the sale-deed filed by the assessee the WTO found that the cost of the flat was Rs. 56 lakhs and the assessees share therein came to Rs. 28 lakhs. He further observed that the assessee did not reside in the flat since it was purchased as she was a non-resident. He accordingly adopted the value of the assessees half share in the flat at the cost price of Rs. 28 lakhs.
(2.)On appeal, it was pointed out that in the case of Mahesh Khatwani, the assessees husband, the value of the property returned at Rs. 61,500 has been accepted in the assessment made for the asst. yr. 1991-92, that as per the passport endorsements the assessee had visited India and used to reside at the Bandra flat and that the letters written by the assessees Attorney on 10th March, 1994, and 22nd March, 1994, have been ignored. It was contended that the WTO should have accepted the value of the flat as returned.
(3.)The CIT(A) disposed of the appeal in the following words :
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