The Direct Tax Vivad Se Vishwas Act, 2020.

S.3: Amount payable by declarant – Search cases – Enhanced rate of tax – Assessment – Income of any other person – No evidence that assessee was involved in alleged bogus transaction – Enhanced rate of tax could not be levied . [ S.4,5 ]

Direct Tax Vivad Se Vishwas Act, 2020

S. 2(b): Appellate forum- Tribunal remanded the matter – Pendency of appeal before CIT (A) on specified date – Rejection of order is held to be unsustainable [ S.246A, 253, Art, 226 ]

Direct Tax Vivad Se Vishwas Act, 2020

S. 2(b): Appellate forum- Disputed Tax—Pendency of appeal — Declaration cannot be rejected on ground that assessee had offered an amount for taxation – The rejection of the declaration under the 2020 Act was not valid. [ S. 2 (j) ]

Wealth Tax Act, 1957

S.17 : Wealth escaping assessment – Reassessment — Concealment of assets or furnishing of inaccurate particulars — Penalty —Provisions in pari materia with provisions of Income-Tax Act, 1961 —Law laid down by Supreme Court in Income-tax Matter is applicable to wealth tax proceedings – Natter remanded to pass speaking order . [ S.17(1), 18(1)(c), ITAct , S.147, Art , 226 ]

Wealth-Tax Act, 1957

S. 7 : Value of assets – Assets seized – Possession of revenue Authorities — Value of assets cannot be included in net wealth- The court directed that the Department shall forthwith release 85,617 grams of gold, jewellery, cash and other valuable articles as per the panchanama and hand it over to the petitioners being the legal heirs of the assessee [ S.7(1) , ITAct , S.132 ]