Wealth Tax Act - Adherence to provisions of Sec.16A while making assessments.

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....e assessments without making necessary references to the Valuation cell. They have taken exception to such instances being repeated inspite of their repeated observations and repeated instructions of the CBDT. 2. The Board would therefore like to emphasise strict adherence to the provisions of sec.16 A which lays down that the wealth-tax officer may refer the valuation of any asset to a valuati....

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....November, 1972 in F.No.132(1)/72-TPL. In para 35 it has been clearly stated: In the cases covered by sec 16 A(1) , it will be incumbent on the Wealth-tax officer to refer the valuation of the asset in question to the valuation officer and it will not be open to him to decide the question of valuation on his own. 4. For removal of doubts it may be stated here that Instruction No.365 dated ....