9911796707
TMI Blog1983 (1) TMI 164X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessment order for the asst. yr. 1973-74" a sum of Rs. 24,048. The reasons given for the preceding assessment year were that considering the location in a posh locality the value was being enhanced. Later the WTO received an audit note informing him that the record revealed that for the preceding two asst. yrs.1972-73 and 1973-74 the assessee herself had returned the value of Rs. 3,22,682 and Rs. 3,31,962 respectively. It was further pointed out that while the value of the land has been taken at Rs. 16,000 per ground and the WTO had increased it by Rs. 4,000 per ground, the value of the building taken for this assessment year was not commensurate with the value of the building taken for earlier years. Since the value of the house cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an that the WTO was informed about the material already on record and required to reconsider the same material. It was submitted than the WTO could not by reappraising the same material come to a different conclusion in making a reassessment. Reliance was placed on the decision of the Supreme Court in CIT vs. Simson Carves Ltd. 1976 CTR (SC) 418 : (1976) 105 ITR 212 (SC). 4. On a consideration of the rival submission we are of the opinion that there are no merits in these appeals. It may be that the audit note reminded the WTO of only the fact that for the preceding assessment years the assessee had returned the value of the property at a higher figure. It may follow that the audit note did not amount to an expression of opinion on questi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion to the value returned by the assessee. It may be that the conclusion of the WTO was incorrect or that the estimate of the value of the property made by the WTO after considering various facts before him was inadequate in the circumstances of the case. But that would only mean that the WTO had not given due weight to one of the evidence before him in coming to the conclusion. If the WTO is required to reconsider his opinion by giving due weight to that piece of evidence, it would only mean that he is reviewing his decision on the basis of the same facts already on record. It has been held by the Supreme Court in CIT vs. Simon Carves Ltd. 1976 CTR (SC) 418 : (1976) 105 ITR 212 (SC) that the statute enabling the reassessment does not enabl ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
