TMI Blog1970 (4) TMI 4X X X X Extracts X X X X X X X X Extracts X X X X ..... J.-- In proceedings for determination of wealth-tax for the assessment years 1957-58 and 1958-59 the appellant-company claimed depreciation allowance on plant, building and machinery at the rates prescribed under the Income-tax Act and the Rules framed thereunder. The Wealth-tax Officer adopted the method prescribed by section 7, sub-section (2), of the Wealth-tax Act and admitted the value of the assets as shown in the certified balance sheets on the respective valuation dates. In appeal, the Appellate Assistant Commissioner of Wealth-tax confirmed the order passed by the Wealth-tax Officer. The company then moved revision applications before the Commissioner of Wealth-tax under section 25 of the Wealth-tax Act. Against the order passed b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 25 is not administrative : it is quasi-judicial. The expression " may make such inquiry and pass such order thereon " does not confer any absolute discretion on the Commissioner. In exercise of the power the Commissioner must bring to bear an unbiassed mind, consider impartially the objections raised by the aggrieved party, and decide the dispute according to procedure consistent with the principles of natural justice : he cannot permit his judgment to be influenced by matters not disclosed to the assessee, nor by dictation of another authority. Section 13 of the Wealth-tax Act provides that all officers and other persons employed in the execution of this Act shall observe and follow the orders, instructions and directions of the Board. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a reference to the Board's Circular No. 7-D of 1959 suggesting the manner in which depreciation has to be worked out for the purpose of determining wealth-tax. Again in the entry dated June 17, 1960, under item No. 4 it is stated that the Board's instructions were " specific on the point that no adjustment to depreciation relating to the period prior to March 31, 1957, should be made while determining the total wealth of an assessee on the basis of global valuation ". Under entry dated August 7, 1963, recorded by the Inspector, it is stated that " upon reference to the Board for instructions, it was recommended that the petitions be kept pending decision of the matter till " it was decided by the High Court in which the same question ..... X X X X Extracts X X X X X X X X Extracts X X X X
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