COMMISSIONER OF WEALTH TAX Vs. SHRINIWAS SHARMA

JUDGEMENT

(1.) THE Income-tax Appellate Tribunal has referred the following question of law arising out of its order dated February 7, 1981, for the assessment years 1970-71 and 1971-72 :

(2.) THE Valuation Officer submitted his report on March 22, 1975, and on that very date, notices were issued to the assessee for both the years, namely, 1970-71 and 1971-72. Reassessment proceedings under Section 17(1)(b) of the Wealth-tax Act were started. THE reassessment orders were framed on February 17, 1979. Against these orders, appeals were preferred to the Appellate Assistant Commissioner where it was contended that the provisions of Section 16A could have been invoked only during the pendency of the assessment proceedings and there was no warrant for the Wealth-tax Officer to make the reference under Section 16A after the assessments were completed. THE Appellate Assistant Commissioner accepted the plea and the appeals were allowed.