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TMI Blog2009 (2) TMI 53X X X X Extracts X X X X X X X X Extracts X X X X ..... ht in law in holding that the IAC Asstt. Range -VII (A) had no jurisdiction over W.T. Cases of the assessee even though the case of the assessee was validly transferred to the IAC, Asstt. Range VII (A) by the CIT, Bombay City-VII, Bombay, by a notification u/s.127 of the I.T. Act, 1961? 2. Whether on the facts and in the circumstances of the case, the Tribunal failed to appreciate that u/s.8 of the W.T. Act, the officer having jurisdiction under the I.T. Act had to perform the functions under the W.T. Act also, particularly when the transfer of income tax case u/s.127 of the I.T. Act, 1961 was held to be valid and consequently the combined operation of sec. 127 of I.T. Act and sec. 8 of the W.T. Act gave proper juri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... an that the said notification covered the cases under the Wealth-tax Act as well. For wealth-tax purposes, a separate notification u/s.8AA of the Act was required. In coming to this conclusion, the Tribunal had followed its earlier order in which the Tribunal had relied on the decision of the Madras High Court in the case of CWT vs. B. Nathmal Vaid (154 ITR 186). The Tribunal also held that since the IAC had no jurisdiction, there was no point in discussing the appeals of the department and the assessee. The Tribunalto hold that the Wealth Tax Officer had no jurisdiction, was principally guided by the judgment of the Madras High Court in Commissioner of Wealth-tax vs. B. Nathmal Vaid, (1985) 20 Taxman 222 (Madras). 4. We shall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... me-tax Act will be the W.T.O., for the purpose of the Wealth-tax Act would be the Wealth Tax Officer. 5. Section 127 of the Income-tax Act confers powers on the Authorities specified therein to transfer cases from one Assessing Officer to another Assessing Officer. We may gainfully reproduce Section 127(1) which reads as under:- "127(1) The Director General or Chief Commissioner or Commissioner may after giving the assessee a reasonable opportunity of being heard in the matter, wherever it is possible to do so, and after recording his reasons for doing so, transfer any case from one or more Assessing Officers subordinate to him (whether with or without concurrent jurisdiction) to any other Assessing Officer or Assessing Officers (whether ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oth as Assessing Officer under the Income Tax Act as also Wealth Tax Act. In the absence of Notification under Section 127 it is still open to the authorities exercising powers under Section 8AA of the Wealth Tax, to independently issue a notification. That does not mean that even after Notification under Section 127 of the Income Tax Act is issued a separate Notification is required under Section 8AA. Section 8AA is a specific power which can be examined in the absence of a notification under Section 127 of the Income Tax Act. 7. Therefore, in the instant case once a Notification is issued under Section 127 the Officer for the Wealth Tax Act would be the same officer who would exercise the jurisdiction under the Income Tax Act. In our opi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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