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TMI Blog1983 (7) TMI 88X X X X Extracts X X X X X X X X Extracts X X X X ..... n clarifications from the Valuation Officer without setting aside the order of the Valuation Officer made u/s 16A (5) of the WT Act, 1957. In order to appreciate these grievances of the revenue, we bring into focus the factual background from which these appeals emanate. 2. The assessee, Shri Pyare Lal Khosla, is a partner in the firm working under the name and style of M/s Deepak Talkies having 5/16 share in the profits and losses. For the asst. yr. 1973-74, for the purpose of wealth tax assessment, his value of interest in the properties owned by M/s Deepak Talkies was to be determined. The assessee got the same done through an approved valuer who vide his report dt. 21st August, 1973 valued the properties as on 31st March, 1973 on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 981, which is under appeal before us, considered various objections raised before him. He found that there were not only objection made by the Valuation Officer but there also appeared to be some mistake regarding application of multiple, etc. Therefore, considering the totality of the facts and circumstances of this case he thought it better to restore the case to the file of the WTO. After considering all these points he set aside the assessment for and from the Asst. yrs. 1973-74 to 1979-80 with the following directions : (i) The discrepancies pointed out in the valuation report may be got reconciled by the Valuation Officer. (ii) The objections raised by the appellant vide his letter dt. 30th October, 1981, a copy of which is also b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e u/s 16A was not valid and if that was so, the directions issued by him are not valid. The order of the AAC may be set aside for each of the assessment years under appeal and that of the WTO restored. 5. The ld. Counsel for the assessee, on the other hand, submitted that the revenue is making much a do for nothing. It was contended by him that once an order of assessment made by the WTO was set aside by the AAC, the valuation report considered by the WTO in making the assessment also automatically got set aside. 6. We have given careful consideration to the rival submissions. In our considered opinion, there is no justification for an interference in the order of the AAC at the instance of the revenue. The AAC has wider amplitude of po ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -s. (iii) or sub-s. (v) of s. 16A by making an order in each case. However, there is no such mandate for the AAC or the CWT (A). Therefore, the AAC has the right and the powers to direct the WTO to seek certain clarifications about the valuation report submitted by the Valuation Officer. This is what the ld. AAC has done in the case before us. We thus refuse to interfere in his order at the instance of the revenue. 7. Before we close we would like to observe that the provisions under the WT Act providing for an opportunity to the Valuation Officer or a registered valuer during the course of appellate proceedings is only a legislative recognition of the well-settled principle that in taxation proceedings the principles of natural justice s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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