1999 (3) TMI 42

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.... "whether, on the facts and in the circumstances of the case, the Tribunal having found that the Wealth-tax Officer adopted the figures of valuation much lower than the proposed valuation of the Valuation Officer, was right in law in holding that the Commissioner was not justified in invoking revisional jurisdiction by acting on material which did not form part of the record of assessment ?" The ....

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....y the Wealth-tax Officer on March 26 1986 determining the valuation at higher figures. The Commissioner of Wealth-tax acting under section 25(2) of the Act set aside the assessment directing the Wealth-tax Officer to redo the assessment adopting the correct valuation as per the valuation report. On appeal the Tribunal set aside the order of the Commissioner of Wealth-tax relying on the decision of....