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C.I.T. v. Smt. Prem Lata Kanodia, Kanpur. - INCOME TAX REFERENCE No. 38 of 1991  RD-AH 1879 (10 August 2005)
INCOME TAX REFERENCE No.38 Of 1991.
The Commissioner of Wealth-tax, (C), Kanpur. Applicant
Smt. Prem Lata Kanodia, Kanpur. Respondent.
Hon'ble R. K. Agrawal, J.
Hon'ble Rajes Kumar, J.
The Income Tax Appellate Tribunal, Allahabad has referred the following question of law under section 27 (1) of the Wealth Tax Act, 1957 (hereinafter referred to as "the Act") for opinion to this Court.
" Whether on the facts and in the circumstances of the case, the I.T.A.T. was correct in law in holding that the question of valuation was not referred to the proper valuer and directing the W.T.O. to refer the valuation again to the competent valuer, to determine the assessee's share in the firm and not to go by valuation made by the Valuation Officer who had valued the assets of the firm?"
The reference relates to the Assessment Year 1984-85.
We have heard Sri A.N. Mahajan, learned Standing Counsel appearing on behalf of the Revenue and Sri S.K.Garg, learned counsel assisted by Sri R.S. Agrawal, on behalf of the respondent assessee.
We find that similar question came up for consideration in Wealth Tax Reference No.158 of 1987, The Commissioner of Wealth-tax Versus Shri Ram Saran Kejriwal decided on 9th November, 2004, this court has returned the question unanswered on the ground that the Tribunal has only remanded the matter to the Wealth Tax Officer and has not adjudicated upon any issue. The Tribunal while remanding the matter to the Assessing Authority has to follow its earlier decision in the case of CWT Versus Shri Ram Saran Kejriwal.
Thus, in view of the order passed in the case of Shri Ram Saran Kejriwal being Wealth Tax Reference No. 158 of 1987, we accordingly, return the question unanswered.
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