COMMISSIONER OF WEALTH-TAX Vs. UMESH CHAND

JUDGEMENT

(1.) The Commissioner of Wealth-tax has filed these applications under Section 27(3) of the Wealth-tax Act for calling for a reference of the following questions of law said to arise out of the order passed by the Income-tax Appellate Tribunal, Delhi Bench B, New Delhi : " 1. Whether the Tribunal is justified in upholding the order of the learned Appellate Assistant Commissioner in the facts and circumstances of the case, when both the appellate authorities ignored material facts and evidence regarding comparative sales ?

(2.) Whether the findings of the Tribunal are vitiated in law as these have been arrived at after ignoring relevant facts and material discussed in the relevant orders of the two assessment years and also on mis-statement of the facts ?

(3.) Whether the assessee could be allowed to claim different rates of valuation for similar property before two different Government authorities and whether the Tribunal was justified in holding the value of the land at Rs. 12,000 per bigha in such peculiar circumstances of the case ?