Commissioner Of Wealth-Tax vs Ram Prakash

JUDGMENT K.C. Agrawal, Actg. C.J.

1. As a consequence of a search on January 25, 1977, two additions of Rs. 25,000 and Rs. 68,743 were sustained in income-tax proceedings in 1977-78. The question in the instant case is, could the same be considered as wealth of the assessee for the assessment year 1976-77. The Tribunal found that there was no evidence on record that these amounts were available with the assessee in the year 1976-77. The Department is not right in saying that on the basis of the wealth found in the raid in the year 1977-78, the aforesaid figures shall be added for the year 1976-77.

2. Consequently, the application is rejected.