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Issues:
1. Jurisdiction of the Appellate Tribunal in directing investigation into the valuation of land. 2. Dispute over the valuation of a piece of land in an estate. 3. Competency of the cross-objection filed by the accountable person. 4. Dismissal of the Department's application under s. 64(1) of the Act. 5. Power of the Tribunal to direct further investigation and remand the case. Jurisdiction of the Appellate Tribunal: The case involved a dispute over the valuation of a piece of land in an estate left behind by a deceased individual. The accountable person valued the land at Rs. 35,600, while the Asst. Controller valued it at Rs. 92,000 based on W.T. assessment. The Appellate Controller later reduced the value to Rs. 35,600, leading to an appeal by the department to the Tribunal. The Tribunal, in its order, raised crucial questions regarding the possession of a third party over the land, the nature of possession, and the lack of consideration of these aspects by the lower authorities. The Tribunal directed further investigation into the valuation, citing the need to consider these crucial aspects for determining the correct value of the property. Competency of Cross-objection: The accountable person had filed a cross-objection regarding the valuation of the land. However, the Tribunal dismissed the cross-objection as incompetent since there was no provision for filing a cross-objection under the Act. The Tribunal specified that the investigation into the valuation would be carried out by the Appellate Controller, as the authority for investigation was omitted in the initial order. Dismissal of Department's Application: The Department's application under s. 64(1) of the Act was dismissed by the Tribunal. The Tribunal observed that since the authority for investigation was specified in the rectification order, no reference regarding this question was necessary. The Tribunal also dismissed the application for being purely hypothetical, as it related to a situation where the accountable person had accepted the valuation determined by the Appellate Controller. Power of Tribunal to Direct Further Investigation: The Tribunal's power to direct further investigation and remand the case was discussed, with reference to the case law of Hukumchand Mills Ltd. v. CIT [1967] 63 ITR 232 (SC). The Tribunal's authority to direct a further inquiry and dispose of the case based on such an inquiry was upheld. The Tribunal's direction for further investigation was deemed necessary based on the reasons mentioned in the order, and the fear of the department regarding a potentially lower valuation was considered hypothetical. The Tribunal's order to remand the case for further investigation was within its jurisdiction, and no question of law arose from this stage. Conclusion: The application was dismissed by the High Court, with no order as to costs. The High Court upheld the Tribunal's power to direct further investigation and remand the case, emphasizing the need to consider crucial aspects for determining the correct valuation of the property. The jurisdiction of the Appellate Tribunal in directing the investigation into the valuation of the land was deemed valid, and the dismissal of the Department's application and the cross-objection by the Tribunal were upheld.
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