9911796707
TMI Blog1981 (10) TMI 95X X X X Extracts X X X X X X X X Extracts X X X X ..... obtained a report from the departmental valuer and found that the value of some of the properties assessed for the assessment years before us was much lower than the value determined by the Valuation Officer. He, therefore, reopened the assessments for all these years on the ground that the properties in question were undervalued in the original assessments on the basis of the valuation report for the assessment years 1975-76 and 1976-77 which were before him. The assessee appealed to question not only the valuation adopted by the WTO but also the validity of the proceedings. The AAC accepted the contention or the assessee that though the WTO had mentioned only section 17, the proceedings could be regarded as having been initiated under sec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessment year 1970-71 the assessment was made on 27-12-1970. The assessee filed the returns for the assessment year 1971-72 on 12-7-1971 and for the assessment year 1972-73 on 8-8-1972, showing the same figure of valuation at which the properties were assessed. The revenue has not placed any material to show that the value of these properties had enhanced in the two subsequent years. It is also the policy of the revenue to assess the properties to wealth-tax at the same value for the period of three years. In the circumstances, there is absolutely no material to indicate any omission on the part of the assessee which could bring the case within the scope of section 17(1)(a). With regard to the provisions of section 17(1)(b) the only m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... when the appellate authority called for a remand report, the Valuation Officer revised his valuation of the property, which goes to show that even the value determined by him was not final or accurate. It is well settled that in a reassessment proceedings, even where it is initiated in consequence of any information, the WTO cannot redetermine the issues before him by changing his opinion on the basis of the same material which he had considered earlier. Therefore, we are of the opinion that the reassessments for all the four years, in the absence of any fresh material affecting the determination of the valuation of the properties on the relevant valuation dates, remained a change of opinion on the basis of the same materials earlier consid ..... X X X X Extracts X X X X X X X X Extracts X X X X
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