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The Income Tax Department was directed by the Madras High Court to ascertain and inform the court as to the existence of any valid will or a legal heir of former Chief Minister J Jayalalitha. A division bench of Justice HuluvadiRamesh and Justice K Kalyansudaram passed the order on an appeal moved by the department challenging the order of Income Tax Appellate Tribunal in condonation of delay and setting aside the revision order passed by the commissioner of wealth tax. The issue pertains to 1997-98 wealth tax assessment of Jayalalitha.
The department had assessed her net wealth as Rs. 4.67 crore but later it came to light that some of the gold and silver jewels worth Rs. 3.83 Crore had been undervalued as if they are worth a mere Rs. 1.85 Crore. Apart from this a sum of Rs. 58.52 Lakh invested for construction of her residential building and Rs. 11.72 Lakh spent on construction of a farm house. Some motor vehicles belonging to her were not assessed too.
Being aggrieved, the department has moved the present appeal seeking to set aside the order of the tribunal. The Condoning of the inordinate delay of 2,255 days is against the judgment of the Supreme Court.
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