1998 (5) TMI 16

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.....-The Tribunal has referred for the opinion of this court the following questions under section 27(1) of the Wealth-tax Act, 1957 : "1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in modifying the direction given by the Commissioner of Wealth-tax to the Wealth-tax Officer to reframe the assessment by directing the Wealth-tax Officer to apply rule 1B....

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....Commissioner of Wealth-tax found that during the survey operation the adjoining plots bearing C-12 and B-12 were sold for Rs. 2 lakhs each in December, 1974, and January 1975. The Commissioner of Wealth-tax, therefore, found that the order of the assessment as made by the Wealth-tax Officer for each of the years was erroneous and prejudicial to the interests of the Revenue. He, therefore, set asid....

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....dural and mandatory, applied to all pending proceedings before all the authorities. It was held that, since the matter had already been remitted to the Wealth-tax Officer, the Wealth-tax Officer should apply rule 1BB for all the years in question. The contention of the Revenue that rule 1BB cannot be invoked does not now survive in view of the decision of the Supreme Court in CWT v. Sharvan Kum....