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TMI Blog1984 (9) TMI 72X X X X Extracts X X X X X X X X Extracts X X X X ..... Courts in CWT v. Amatul Kareem [1981] 127 ITR 549 and E.R. Kothandaraman v. CWT [1981] 129 ITR 450. He emphasised in para 7 only on the decision of the Supreme Court in Mrs. Khorshed Shapoor Chenai's case. From the contents of the application as well as from the arguments of Shri Kaji, we do not agree with the assessee that there was a mistake apparent on record. Mistake apparent on record means clerical mistake, printing mistake, typographical mistake and incorporation of wrong facts in the order. The mistake which the learned counsel has tried to point out is not covered by any of these mistakes. So far as the case law is concerned, normally it cannot be said that it is a mistake apparent on record. Of course, the Supreme Court decision, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... original order in WT Appeal Nos. 859 to 863 (Ahd.) of 1981. I give my reasons in the succeeding paragraphs. 2. It is not correct to say, with respect, that the decision of the Supreme Court in Mrs. Khorshed Shapoor Chenai's case is not directly on the issue. In fact in Mrs. Khorshed Shapoor Chenai's case it is clearly stated thus : " . . . This, however, does not mean that the Civil Court's evaluation of this right done subsequently would be its valuation as at the relevant date either under the Estate Duty Act or the Wealth-tax Act. It will be the duty of the assessing authority under either of the enactments to evaluate this property (right to receive compensation at market value on the date of relevant notification) as on the relevant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , which lays down the law on the subject, it may not be appropriate to state that the said decision has no application in wealth-tax matter. Secondly, the assessee had made written submission by his letter dated 3-2-1983 in which the relevant extract at page 32 has been reproduced. The fact that the said decision was not considered, therefore, would constitute a mistake apparent from record. Thirdly, the value of the compensation receivable by the assessee in the light of the above observations of the Supreme Court has to be determined somewhere between the value awarded by the Collector or the claim made by the claimant. It may not be equal to the claim actually awarded by the Civil Court in view of the risk or hazard of litigation. Theref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nds belonging to the assessee were acquired by the Government. The Land Acquisition Officer (LAO) awarded compensation of Rs. 71,474. The assessee took the matter to the District Court claiming a compensation of Rs. 4,95,000. The District Judge granted an additional compensation of Rs. 67,667. On the matter being taken further to the High Court, the High Court gave its decision on 22-10-1980. For the assessment years 1972-73 to 1976-77, the WTO, in including the asset represented by the acquired lands for wealth-tax purposes, took its valuation at Rs. 4,95,000---the amount claimed by the assessee before the District Court. The AAC upheld the ITO's order with the modification that the valuation be fixed on the basis of the High Court's decis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of lands acquired by the State authorities with compensation received at different intervals, has laid down the manner of valuing the asset. This obtains at Mrs. Khorshed Shapoor Chenai's case. Since the Supreme Court has clearly laid down the law on the point, it was obligatory on the Bench of the Tribunal to follow it in evaluating this asset. The learned counsel for the department has pointed out that the actual question involved in Mrs. Khorshed Shapoor Chenai's case was one of reopening the assessment and not the valuation. The passage referred to in the learned Accountant Member's order and obtaining at page 32 of the report does not support this contention. There is a clear mistake apparent from record by not following the Supreme ..... X X X X Extracts X X X X X X X X Extracts X X X X
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