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Issues: Difference of opinion on the mandatory nature of giving the valuation officer an opportunity to be heard under section 23(3A) of the Wealth Tax Act.
The judgment involved a difference of opinion between the Judicial Member and the Accountant Member regarding the mandatory nature of providing the valuation officer with an opportunity to be heard under section 23(3A) of the Wealth Tax Act. The Judicial Member held that this provision was mandatory, citing a previous case, and recommended sending the matter back to the Appellate Assistant Commissioner (AAC) for compliance. On the other hand, the Accountant Member argued that the word 'shall' in a statute does not always imply a mandatory requirement, and the need for compliance should be assessed based on the circumstances of each case. The Accountant Member emphasized that the valuation officer's report is independent and should be considered final, without the need for a hearing. The Third Member, after hearing both sides, analyzed the role of the valuation officer, concluding that the provision under section 23(3A) is indeed mandatory. The Third Member highlighted that the valuation officer's role is that of an expert, and the opportunity to be heard is crucial to ensure a fair assessment process. The Third Member emphasized that non-compliance with this provision would render the order invalid, as it denies the valuation officer the opportunity to present their perspective. Therefore, the Third Member agreed with the Judicial Member's view that non-compliance should be rectified by sending the matter back to the AAC for proper compliance with section 23(3A). In the judgment, the Third Member delved into the interpretation of the word 'shall' in statutory provisions, citing previous legal principles. The Third Member emphasized that the intention of the legislature in introducing section 23(3A) was to ensure a fair and unbiased assessment process by providing the valuation officer with an opportunity to be heard. The Third Member highlighted that the valuation officer's role is crucial in wealth tax assessments, as it involves determining the market value of properties. Therefore, the Third Member concluded that the word 'shall' in section 23(3A) should be interpreted as mandatory, as non-compliance would result in denying the valuation officer their statutory right to be heard. The Third Member stressed that this procedural requirement is essential to uphold the integrity of the assessment process and ensure a thorough consideration of all relevant factors. Consequently, the Third Member supported the view that non-compliance with section 23(3A) necessitates sending the matter back to the AAC for proper compliance, in line with the legislative intent and principles of fair assessment procedures.
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