TMI Blog1997 (11) TMI 28X X X X Extracts X X X X X X X X Extracts X X X X ..... holding that the Appellate Controller's order in admitting the appeal is based on the directions given by it and hence it need not go against its direction ? 2. Whether, on the facts and in the circumstances of the case, the Appellate Tribunal is justified in holding that there is no case for rectification under section 61 of the Estate Duty Act ? 3. Whether the valuation adopted for wealth-tax assessment cannot provide the basis for adoption of the same value for estate duty assessment?" The original assessment with reference to the estate of one late Mariappa Mudaliar of Coimbatore was made under the provisions of the Act on February 15, 1971, determining the principal value of the estate passing on the death of the deceased at Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or and had the building revalued. According to him, the value adopted in the original assessment under the Estate Duty Act was arrived at only after some serious discussion about the value of the property and after taking into account the figures furnished in the wealth-tax assessment. It was also submitted that the value adopted in the wealth-tax assessment was only on ad hoe basis and the accountable person has not challenged the assessment made under the Wealth-tax Act because of the negligible tax effect in the wealth-tax proceedings. The Assistant Controller did not agree with the contentions of the accountable person and he held that there are mistakes which are apparent on the face of the record and in this view of the matter, he hel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... person filed the accounts for the purpose of estate duty, he filed an approved valuer's report and the value arrived at by the approved valuer was accepted for the property at 100 Feet Road. She also found that it was later on revised to Rs. 49,500 to be on par with the wealth-tax assessment. In so far as the property situated at Avanashi Road is concerned, though the valuer had shown the value at Rs. 56,000, the Assistant Controller of Estate Duty adopted a sum of Rs. 96,300 as the market value of the property as on the date of death. The sum of Rs. 96,300, according to the Appellate Controller, was arrived at by the Assistant Controller of Estate Duty after discussion and after verification of physical features of the property by inspect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate Controller had admitted the appeal after condoning the delay, the appeal was held to be maintainable. In so far as the second ground of challenge regarding the question whether there was a mistake apparent on the record or not, the Appellate Tribunal entirely agreed with the Appellate Controller and hold that the figure in the wealth-tax assessment cannot conclude the matter but the wealth-tax assessment could be considered only as a relevant material. It also found that in the wealth-tax assessment the figures were adopted on some ad hoc basis which would not enable the Assistant Controller of Estate Duty to rectify the order of assessment, The Appellate Tribunal also held that merely because the accountable person did not challenge ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... condoning the delay and admitting the appeal. Mr. C. V. Rajan, learned counsel appearing for the Revenue, contended that an appeal cannot be preferred against an order passed under section 61 of the Estate Duty Act and therefore the appeal filed by the accountable person did not lie. We are unable to accept the arguments of learned counsel for the Revenue, In the case of Vedantham Raghaviah v. Third Addl. ITO [1963] 49 ITR 314, this court held that once an order of rectification was passed the assessment itself was modified and what remained was not the order of rectification but only the assessment as rectified. The above proposition of law laid down by this court in Vedantham Raghaviah's case [1963] 49 ITR 314, was subsequently followed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the conclusion that there are no mistakes apparent on the record for rectification. The Appellate Controller found that the accountable person filed the accounts for estate duty purposes, and the value reflected in the accounts was supported by the report of the approved valuer. With reference to the property situate at 100 Feet Road, it was valued at Rs. 44,600 and it was revised to Rs. 49,500 to be on par with the wealth-tax assessment. In so far as the property situated at Avanashi Road is concerned, the accountable person has valued the property at Rs. 56,000 which was also based on the report of an approved valuer. The Assistant Controller of Estate Duty in the original assessment proceedings did not accept the value shown by the accou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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