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BEFORE MUHAMMAD MUNIR QURESHI, ACCOUNTANT MEMBER AND SYED NADEEM SAQLAIN, JUDICIAL MEMBER versus BEFORE MUHAMMAD MUNIR QURESHI, ACCOUNTANT MEMBER AND SYED NADEEM SAQLAIN, JUDICIAL MEMBER

Sections 17 and 16 (5) of the Wealth Tax Act, 1963, under Section 17 of the Wealth Tax Act, 1963, issued notice to the Examination of Wealth that the opportunity for return was given to the office bearers. , The non-compliance assessment was finalized under section 16 (5). The assessee of the Wealth Tax Act, 1963, asserts that Section 16 of the Act governs the assessment proceedings only in cases where the return was filed under section 14 of the Wealth Tax Act, 1963 and not where the wealth tax Section 17 of the Act has been filed with net refund. , The assessment had to be finalized under section 17 of the Wealth Tax Act, 1963, although the present assessment or the residual estimate was run under section 17 of the Wealth Tax Act, 1963. The Wealth Tax Act, 1963 was only suitable for demanding a net refund where escapes or tests under assessment or at very low rates were detected when the provisions of Section 17 were emphasized, the Wealth Tax Act, 1963 up to now. The clauses were to be implemented as if the notice was issued under section 14 (2) of the Wealth Tax Act, 1963, resulting in the Wealth Tax Act, on notice under section 17, after the issuance of the review of net wealth. It was also ruled under Article 16 of 1963 top advocates from Mangi lawyer