M V KIBE Vs. COMMISSIONER OF WEALTH TAX

JUDGEMENT

(1.) BY this reference under Section 27(1) of the Wealth-tax Act, 1957 (hereinafter referred to as "the Act"), the Income-tax Appellate Tribunal, Indore Bench, has referred the following question of law to this court for its opinion :

(2.) THE material facts giving rise to this reference, briefly, are as follows:

(3.) IN reply, Shri Mukati, learned counsel for the Revenue, contended that the powers of the Appellate Assistant Commissioner under Section 23(5) of the Act were very wide, that he could pass any order that he thought fit and that the Tribunal was, therefore, justified in holding that the Appellate Assistant Commissioner had jurisdiction to direct the Wealth-tax Officer to refer the matter of valuation to the Valuation Officer as provided by Section 16A of the Act.