Net wealth not to include forfeited assets despite pendency of appeal on valuation date

HIGH COURT OF GUJARAT Wealth Tax Officer versus Lallubhai Jogibhai Patel TAX APPEAL NOS. 179, 180 & 182 OF 2000 SEPTEMBER 4, 2012 JUDGMENT Harsha Devani, J.  Since all these appeals arise out of a common order dated 15.12.1999 passed by the Income-tax Appellate Tribunal (hereinafter referred to as “the Tribunal”) and controversy involved in all the appeals is also common, the same were taken up for hearing together and are disposed of by this common judgment. 2. The assessment years are 1984-85, 1985-86, 1988-89 and 1989-90. Briefly stated the facts of the ca...