Remand for wealth-tax revaluation under Schedule III raised no substantial question of law; appeals dismissed.

A remand directing the Assessing Officer to revalue property under Schedule III to the Wealth-tax Act did not state any independent legal principle or erroneous proposition of law. The Tribunal was therefore justified in refusing interference, because the Department's section 260A appeals did not raise a substantial question of law. On that basis, the appeals were held not maintainable and were dismissed.

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Issues: Whether the Department's appeals under section 260A of the Income-tax Act, 1961 raised any substantial question of law against the order remanding the wealth-tax valuation matter to the Assessing Officer and directing revaluation in accordance with Schedule III to the Wealth-tax Act, 1957.

Analysis: The appellate authority had not laid down any independent principle of law while remanding the matter. It only directed the Assessing Officer to revalue the property by applying the principles contained in Schedule III to the Wealth-tax Act, 1957. Since no erroneous legal proposition was stated in the remand order, the Tribunal was justified in declining to interfere. In these circumstances, no substantial question of law arose for consideration in the appeals.

Conclusion: The appeals were not maintainable on any substantial question of law and were dismissed.

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