https://www.taxtmi.com/caselaws?id=55721 The Tribunal upheld the decision of the CWT(A) regarding jurisdiction, validity of references, and interpretation of provisions under the Wealth Tax Act. It concluded that the IAC of W.T. (Asst.) lacked jurisdiction under section 16A(1) for assessment proceedings, invalidated the reference to the valuation officer for immovable properties under section 16A, and deemed the reassessment completed based on the valuation report as invalid. The Assessing Officer was found incompetent to invoke jurisdiction under section 16A(1), emphasizing the necessity of forming a firm opinion before making a reference to the valuation officer during reassessment proceedings under section 17. en-us Mon, 26 Jul 1993 00:00:00 +0530 Mon, 29 Nov 2010 16:30:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55721 The Tribunal upheld the decision of the CWT(A) regarding jurisdiction, validity of references, and interpretation of provisions under the Wealth Tax Act. It concluded that the IAC of W.T. (Asst.) lacked jurisdiction under section 16A(1) for assessment proceedings, invalidated the reference to the valuation officer for immovable properties under section 16A, and deemed the reassessment completed based on the valuation report as invalid. The Assessing Officer was found incompetent to invoke jurisdiction under section 16A(1), emphasizing the necessity of forming a firm opinion before making a reference to the valuation officer during reassessment proceedings under section 17. Case-Laws Income Tax Mon, 26 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55721