1987 (3) TMI 54

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....had jurisdiction to direct the Wealth-tax Officer to refer the matter to the Valuation Officer as provided by section 16A of the Wealth-tax Act, 1957 ? " The material facts giving rise to this reference, briefly, are as follows: The assessee is a Hindu undivided family and the assessment years in question are 1975-76 and 1976-77. Partly aggrieved by the orders of assessment passed by the Wealth-tax Officer, the assessee preferred appeals before the Appellate Assistant Commissioner. The Appellate Assistant Commissioner set aside the orders of assessment passed by the Wealth-tax Officer and remanded the matter to the Wealth-tax Officer for making a fresh assessment. The Wealth-tax Officer was also directed to refer the valuation of the ....

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....at the powers of the Appellate Assistant Commissioner under section 23(5) of the Act were very wide, that he could pass any order that he thought fit and that the Tribunal was, therefore, justified in holding that the Appellate Assistant Commissioner had jurisdiction to direct the Wealth-tax Officer to refer the matter of valuation to the Valuation Officer as provided by section 16A of the Act. Before we proceed to appreciate the contentions advanced on behalf of the parties, it would be useful to refer to the relevant provisions of the Act. Section 7 of the Act lays down that the value of any asset, other than cash, for the purposes of the Act, shall be estimated to be the price which in the opinion of the Wealth-tax Officer it would fe....

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.... to go into any ground of appeal, not specified in the grounds of appeal ; (b) before disposing of an appeal, make such further inquiry as he thinks fit or cause further inquiry to be made by the Wealth-tax Officer or, as the case may be, the Valuation Officer. (5) In disposing of an appeal, the Appellate Assistant Commissioner or, as the case may be, the Commissioner (Appeals) may pass such order as he thinks fit which may include an order enhancing the assessment or penalty: Provided that no order enhancing the assessment or penalty shall be made unless the person affected thereby has been given a reasonable opportunity of showing cause against such enhancement. " From a perusal of the aforesaid provisions, it is clear that th....