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TMI Blog1986 (10) TMI 88X X X X Extracts X X X X X X X X Extracts X X X X ..... u had with him, among other properties, three properties which were (1) the residential house at Tanuku, (2) one property at Gollapeta, and (3) another property which is used in the business of Royal Printing Press. On the death of Thimma Raju on 14-8-1978, these properties were inherited by the assessee. He had shown these properties in the wealth-tax returns for the assessment years 1979-80 onwards. The valuation dates were 30th September of the relevant accounting years. 3. These properties were assessed to wealth-tax for the assessment years up to and including 1978-79 in the hands of late Thimma Raju. These properties were subject to valuation by the Valuation Officer at Vijayawada. In respect of the property called 'Royal Printing P ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment and, therefore, it cannot be said that the order was erroneous. It was further submitted that the estate duty valuation has no bearing on wealth-tax assessments. It was submitted that the estate duty assessments have not been accepted and appeals are pending. We may at this stage state that the appeals are still pending and have not been disposed of even today. The Commissioner rejected these submissions and held that the valuations made in the estate duty assessments are relevant and on the basis of the valuation report there has been undervaluation and so the order passed by the WTO was erroneous. He set aside the assessments and directed the WTO to redo the same keeping in mind the valuation for estate duty purposes. 7. The assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es tax and income-tax are in pari materia and, therefore, the decision of the Supreme Court has a relevance. In that case, an identical objection has been taken against a revisionary order on the ground that the materials were not there in the records. The Court observed : " ...The first point urged by learned counsel was that, in exercise of the revisional powers, the Deputy Commissioner of Sales Tax, whether acting under the Sales Tax Act of 1946, or of 1953, or of 1959, could only proceed to take action on the basis of the material already present on the record and was not entitled to act on conjecture or to institute any enquiry so as to include additional material, in order to judge the correctness of the order sought to be revised. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Calcutta High Court comes in. For the purpose of assuming jurisdiction, the Commissioner should not look into anything other than the records. This position is accepted by the Supreme Court also in the same case cited by Shri Santhanam. In that case, they had referred to an earlier decision in the case of State of Kerala v. K.M. Charia Abdulla Co. AIR 1965 SC 1585. The following passage occurred which had been quoted with approval : " ...There is no doubt that the revising authority may only call for the record of the order or the proceeding, and the record alone may be scrutinised for ascertaining the legality or propriety of an order or regularity of the proceeding. But there is nothing in the Act that for passing an order in e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... upon the powers which are expressly reserved by the Act or by the Rules to other authorities or to ignore the limitations inherent in the exercise of those powers. For instance, the power to reassess escaped turnover is primarily vested by rule 17 in the assessing officer and is to be exercised subject to certain limitations, and the revising authority will not be competent to make an enquiry for reassessing a taxpayer. Similarly, the power to make a best judgment assessment is vested by section 9(2)(b) in the assessing authority and has to be exercised in the manner provided. It would not be open to the revising authority to assume that power'. " Thus, the passage cited by Shri Santhanam refers the proceedings after the initial jurisdict ..... X X X X Extracts X X X X X X X X Extracts X X X X
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