TMI Blog2018 (2) TMI 63X X X X Extracts X X X X X X X X Extracts X X X X ..... t 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lhi? IN WTA 7/2008 (1) Whether, in the facts and circumstances of the case, the Income Tax Appellate Tribunal was correct in law in holding that the Commissioner of Wealth Tax (Appeals) erred in giving a finding that these assets were not includable in the net wealth of the assessee? (2) Whether the Income Tax Appellate Tribunal was correct in law in upholding the value adopted by the Deputy Commissioner of Wealth Tax of ₹ 1,48,23,000/- in respect of the land situated at Satbari, Tehsil Mehrauli, Delhi? IN WTA 8/2008 (1) Whether, in the facts and circumstances of the case, the Income Tax Appellate Tribunal was correct in law in holding that the Commissioner of Wealth Tax (Appeals) erred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts have been addressed by the learned DR but the learned AR, on the other hand, has merely relied upon the CWT(A)‟s order. The aspect of valuation as such has not been addressed by him. In the said facts, after deciding the issue of taxability against the assessee and in favour of the Revenue, we are of the opinion that the matter of valuation in both the years should be restored to the file of the Assessing officer with the direction to decide the same in accordance with law taking into cognizance the report of the DVO and after giving the assessee an opportunity of being heard. 4. The AO, after the order of the ITAT, considered the submission of the parties and valued the properties at Jaunapur at ₹ 62,10,000/- [i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the ground was entertained and accepted by the ITAT which was of the opinion that its previous remand order dated 07.01.2002 was confined only to the issue of valuation and, therefore, the issuance of taxability had attained finality. 6. Sh. Prakash Kumar, learned counsel for the asessesses urges that being a question of law, CWT was under a duty to consider and return findings on the issue before him. The assessees did urge the specific issue with respect to taxability or otherwise of the subject lands and adduced material to disclose that no construction could be made. This, in effect, was the purport of Section 2(ea) of the Wealth Tax Act read with Explanation 1(b) which excluded from its purview land on which construction was not p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iscussion that the scope of 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 i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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