1999 (3) TMI 42

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... . "whether, on the facts and in the circumstances of the case, the Tribunal having found that the Wealth-tax Officer adopted the figures of valuation much lower than the proposed valuation of the Valuation Officer, was right in law in holding that the Commissioner was not justified in invoking revisional jurisdiction by acting on material which did not form part of the record of assessment ?" The .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... by the Wealth-tax Officer on March 26 1986 determining the valuation at higher figures. The Commissioner of Wealth-tax acting under section 25(2) of the Act set aside the assessment directing the Wealth-tax Officer to redo the assessment adopting the correct valuation as per the valuation report. On appeal the Tribunal set aside the order of the Commissioner of Wealth-tax relying on the decision o .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the Commissioner of Wealth-tax was perfectly justified in setting aside the order of assessment and directing the Wealth-tax Officer to redo the assessment taking into consideration the relevant proceedings available at the time of examination. The order of the Tribunal is not justifiable. We answer the question referred to us in favour of the Revenue and against the assessee.
Case laws, Dec .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X