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Judgment
A.L. Bahri J.—Vide this order two Wealth-tax References (Nos. 43 and 44 of 1982) are being disposed of as the facts are common. They are now taken from Reference No, 43 of 1982.
The following question of law has been referred to this court in Wealth-tax Reference No. 43 of 1982 by the Wealth-tax Appellate Tribunal, Amritsar, for adjudication :
"Whether, on the facts and in the circumstances of the case, the Tribunal was justified in rectifying its order in Wealth-tax Appeal No. 113 of 1980 dated May 6, 1981, instead of rectifying its order in Wealth-tax Appeal No. 139 of 1980 (Department''s Appeal) dated May 8, 1981, for the assessment year 1971-72 ?"
In Wealth-tax Reference No. 44 of 1982, the following question of law has been referred to this court by the Tribunal :
"Whether, on the facts and in the circumstances of the case, the Tribunal was justified in rectifying its order in Wealth-tax Appeal No. 114 of 1980 dated May 6, 1981, instead of rectifying its order in Wealth-tax Appeal No. 102 of 1980, dated May 8, 1981 (Department''s Appeal) for the assessment year 1971-72 ?"
Both the cases relate to the wealth-tax assessment year 1971-72. After the assessment was framed, the Wealth-tax Officer passed the order of assessment. The assessee filed an appeal before the Commissioner of Wealth-tax (Appeals), who partly accepted the appeal and reduced the value of the property. Thereafter two appeals were filed before the Tribunal, one by the assessee (i.e., Appeal No. 113 of 1980) and the other by the Revenue (i.e., Appeal No. 139 of 1980). The appeal filed by the assessee was allowed, vide order dated May 6, 1981 (annexure "C"). While allowing the appeal, it was directed that the value of the property was to be fixed at the rate of Rs. 3 per square yard. Incidentally, the appeal filed by the Revenue was allowed on May 8, 1981, vide order annexure "D", fixing the value of the very property at the rate of Rs. 9 per square yard. This led to the filing of two applications for rectification of these orders and, ultimately, the Tribunal rectified the order passed on appeal filed by the assessee, which was dated May 6, 1981, by bringing it in confirmity with the final order fixing the valuation at Rs. 9 per square yard. This was done, vide order dated October 26, 1981. It is on these facts that at the instance of the assessee, the aforesaid question of law has been referred.
The question as to what should be the market value of the property has already been decided on reference to this court in Wealth-tax References Nos. 1 and 2 of 1982, Commissioner of Wealth-tax Vs. Shri Jagdev Inder Singh, , wherein the decision of the authorities fixing the market value at the rate of Rs. 9 per square yard was affirmed. That being the position, the questions referred to above are to be answered in the affirmative, i.e., that the Tribunal was justified in rectifying its order in Wealth-tax Appeal No. 113 of 1980, dated May 6, 1981, as well as in Wealth-tax Appeal No. 114 of 1980 dated May 6, 1981. Answered accordingly.