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2018 (2) TMI 63 - HC - Wealth-taxDetermination of net wealth - correctness of valuation adopted by the AO - Scope of remand by the ITAT to the WTO - Held that:- Remand by the ITAT to the WTO in this case was with respect to the question of valuation. At the stage when the WTO decided on the valuation, the final report of the DVO was not available. In the circumstances, the ITAT remanded the matter only on that aspect. In the circumstances, the findings rendered by the WTO could not have been interfered with by the CWT who entertained the issue of taxability which had been earlier given-up. Para 28 of the ITAT’s order clearly shows that the scope of remand was clearly in respect of valuation. In these given facts, the circumstance that for later years, the Revenue accepted the ITAT’s contentions regarding non-taxability of assets, per se cannot afford a ground for it to insist that the remand made by the ITAT ought to and was enlarged so as to include that ground in the previous order when as a matter of fact they did not agitate it. ITAT’s impugned order on the first question did not call for interference. The Court further notices that both the ITAT and the lower appellate authority, i.e. CWT did not address themselves to the issue of valuation which primarily was the subject matter of remand in the first instance. In the circumstances, the matter is remitted for fresh consideration
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