9911796707
TMI Blog1989 (10) TMI 51X X X X Extracts X X X X X X X X Extracts X X X X ..... o different assessment years. Facts leading to the presentation of this application, stated in brief, are that the assessments for the assessment years 1964-65 to 1973-74 were completed by the Wealth-tax Officer on March 27, 1979. The valuation in question relates to a plot of land situated in Tukoganj, Indore, one of the assets held by the assessee. The Wealth-tax Officer has assessed this plot at Rs. 3 per square foot for the assessment years 1964-65 to 1969-70 and at Rs. 4 per square foot in the assessment years 1970-71 to 1973-74. This assessment was challenged by the assessee before the Appellate Assistant Commissioner who set aside all the assessments and remanded the case to the Wealth-tax Officer making the following observations ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pportunity of hearing to the assessee. Aggrieved by this order, the assessee filed appeals before the Commissioner of Income-tax. A decision of this court in M. V. Kibe's case [1987] 168 ITR 82, held that the discretion and the decision by the Wealth-tax Officer in the matter following the Valuation Officer's report is entirely his and cannot be dictated by the appellate authority. In that view of the matter, the Commissioner was not correct in concluding that the Wealth-tax Officer was duty bound to accept the Valuation Officer's report. The Income-tax Appellate Tribunal gave a clear finding that section 16A of the Act was not applicable in this case and the Wealth-tax Officer was not bound to make assessment in conformity with the repor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... opt and act upon the valuation as reported by the Valuation Officer ? It cannot be disputed that the Wealth-tax Officer is a quasi-judicial authority and his own discretion under section 16A(1) cannot be directed or dictated to be exercised in a particular manner by the appellate authority. Reading section 16A(1) of the Act, it is for the Wealth-tax Officer to form the requisite opinion as required by section 16A and the formation of such an opinion cannot be dictated by the appellate authority as has been held by this court in M. V. Kibe's case [1987] 168 ITR 82. A reading of the judgment will further show that this court has held that the Appellate Assistant Commissioner had no jurisdiction to refer the matter to the Valuation Officer ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
