1994 (1) TMI 68

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....tions raise a common question, they are being disposed of finally by means of a common judgment after hearing learned counsel for the parties. In these two cases in spite of time being granted in the past to learned counsel for the Revenue no counter-affidavit has been filed. In fact, on April 16, 1991, the last order was passed for granting further time to file counter-affidavit and no more, but ....

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....April 4, 1981, reference to which is made in the letter for the Valuation Officer, which are annexures-4, 5, 6 and 14 to the writ petition. Through the second writ petition, the petitioners seek quashing of the entire proceedings initiated under section 17 of the Wealth-tax Act for the assessment years 1975-76, 1976-77, 1977-78 and 1978-79 and the aforesaid impugned notices dated March 6, 1980,....

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.... the petitioners is that on the receipt of the aforesaid notices from the Valuation Officer, the petitioners got the files inspected on July 24, 1981, which revealed that because of an audit objection the impugned notice under section 17 of the said Act was issued. The petitioners further made averments which for the purpose of the disposal of the writ petitions are not necessary and to which we a....

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....x Act. In the said decision, it is held that the report of the audit officer pertaining to the facts of valuation cannot furnish the basis for the reopening of the assessment. Similar is the position in the present case. Accordingly, the impugned notices cannot be sustained. To similar effect is also the position in Indian and Eastern Newspaper Society Ltd.'s case [1979] 119 ITR 996 (SC), a decisi....