COMMISSIONER OF WEALTH TAX Vs. S TAJBIR SINGH

JUDGEMENT

(1.) HEARD.

(2.) THESE two reference applications involve identical dispute relating to valuation of property for the asst. yr. 1974-75, for which the relevant date of valuation was 31st March, 1974. The AO relied on a report dt. 30th March, 1978, for the purpose of assessment. The Tribunal came to hold that there was an earlier report of the Valuation Officer and S. 16A(5) of WT Act, 1957 ('the Act') does not contemplate a second reference. On that ground, the Tribunal held that valuation has to be fixed on the basis of the earlier valuation report. An application in each case was filed under S. 27(1) of the Act. One of the questions raised had its foundation on a letter of the WTO to the Valuation Officer dt. 24th/26th November, 1977. The Revenue's stand is that this letter clearly indicated that there was no second reference and only certain clarifications were sought for, which were clarified by the order dt. 30th March, 1978, passed under S. 16A(5), r/w S. 35(1)(aa). The Tribunal noticed that this letter was not made available to it when the appeals were being heard. But feeling that it has some relevance, it annexed the same to the statement of the case. The learned counsel for the Revenue submitted that, if on proper appreciation of the letter, dt. 24th/26th Nov., 1977, it is held that the order, dt. 30th March, 1978 was nothing but a clarificatory one and was not, in fact, a second valuation report, the situation would be different.

(3.) THE Tribunal itself felt that the position could have been different had the effect of the letter, dt. 24th/26th Nov., 1977, been considered by it and, therefore, annexed the letter to the statement of case for our consideration.