https://www.taxtmi.com/caselaws?id=26205 A reference to the valuation cell under the Wealth-tax Act is valid only when made in the course of pending assessment proceedings. Because the Wealth-tax Officer made the reference before any assessment was pending, the statutory condition for invoking the valuation mechanism was absent and the reassessment could not be treated as validly reopened. The Tribunal was therefore justified in cancelling the assessment, and its view was supported by the High Court authorities relied upon in the judgment. en-us Mon, 16 Dec 1985 00:00:00 +0530 Wed, 03 Feb 2010 13:56:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26205 A reference to the valuation cell under the Wealth-tax Act is valid only when made in the course of pending assessment proceedings. Because the Wealth-tax Officer made the reference before any assessment was pending, the statutory condition for invoking the valuation mechanism was absent and the reassessment could not be treated as validly reopened. The Tribunal was therefore justified in cancelling the assessment, and its view was supported by the High Court authorities relied upon in the judgment. Case-Laws Wealth-tax Mon, 16 Dec 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26205