1983 (7) TMI 115

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....tax assessment year is 1976-77. The assessment was under section 16(5) of the Wealth-tax Act, 1957 ('the Act') a best judgment assessment because the WTO thought that the assessee failed to comply with the terms of a notice issued. The Commissioner of Wealth-tax (Appeals) hearing the matter under section 23 of the Act found that no notice had been served on the assessee. So he set aside the assess....

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....was no scope at all for such an argument because section 146 of the Income-tax Act, 1961 ('the 1961 Act') specifically empowers the ITO to proceed to make a fresh assessment. The absence of such a like provision in the Wealth-tax Act does not make any difference because a like provision to that effect, though not worded like section 146, is there in the Wealth-tax Act also. 3. One of the princi....

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.... section 24 is received by the Commissioner or, as the case may be, the order under section 25 is passed by the Commissioner. " So this sub-section extracted above provides for a fresh assessment in pursuance of an order setting aside or cancelling, passed by an appellate authority acting under section 23 of the Act and also provides for the time limit for making such a fresh assessment. So the....