TMI Blog1985 (12) TMI 40X X X X Extracts X X X X X X X X Extracts X X X X ..... ction 27(3) of the Wealth-tax Act, 1957 (hereinafter referred to as "the Act"), for giving a direction to the Income-tax Appellate Tribunal, Jaipur Bench, Jaipur, to draw up the statement of the case and refer the following question of law: "Whether, on the facts and in the circumstances of the present case, the Tribunal was justified in holding that the assessment has not been validly reopened ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax Officer came to the conclusion that the wealth had been under-assessed due to failure on the part of the assessee to disclose true and correct particulars of wealth. An argument was raised before the Income-tax Appellate Tribunal that reference could be made to the valuation cell when the proceedings were actually pending and the Wealth-tax Officer had no power to follow a reverse process, n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on'ble Court was also dismissed and reliance was placed on a decision of this court in Brig. B. Lall v. WM [1981] 127 ITR 308. We have heard Mr. Surolia for the Department. In our view, no mistake has been committed by the Tribunal in taking the aforesaid view. The view taken by the Tribunal is based On the decisions of the Calcutta High Court and also of this court. In view of the above circu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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