Law: Wealth Tax Act, 1957

Section: 27(3),27(1),23(4),24

(a) Wealth tax--- ---- Appeal to Appellate Tribunal---Powers of Tribunal---Powers similar to those of A.A.C.---Tribunal can permit Additional grounds to be raised--­Wealth Tax Act, 1957, S. 24.--[Ugar Sugar Works Ltd. v. CIT (1983) 141 ITR 326 (Bom) overruled]. The powers of the Appellate Assistant Commissioner and the Appellate Tribunal are set out in sections 23 and 24 of the Wealth Tax Act, 1957. Under the Act, the powers of the Appellate Assistant Commissioner under section 23(5) and the powers of the Tribunal under section 24(5) in deciding an appeal are worded in identical language. While deciding a tax appeal, the appellate authorities, viz. the Appellate Assistant Commissioner as also the Tribunal have jurisdiction to permit additional grounds to be.raised before them even though these grounds may not have been raised before either the Assessing Officer or the Appellate Assistant Commissioner, so long as the points for decision arise from the proceedings which were the subject-matter of assessment before the assessing authority. The ratio of the decision of the Supreme Court in the case of Jute Corporation of India Ltd. v. CIT (1991) 187 ITR 688 would apply to the Wealth Tax Act also because reasons which are set out in that apply as much to these provisions of the Wealth Tax Act to similar provisions in the Income-tax Act. The powers of the appellate authorities are the same as the powers of the assessing authority. Additional grounds -can be entertained so long as they relate to the subject-matter of the proceedings which were before the Assessing Officer or before the appellate authority. In fact, this position is brought out far more clearly in the Wealth Tax Act than in the Income-tax Act. The identical wording of sections 23(5) and 24(5) in this regard clearly shows that the powers of the Tribunal are identical with the powers of the Appellate Assistant Commissioner under the Wealth Tax Act, including the power of enhancement. Any controversy, therefore, which may have earlier existed relating to the powers of the Tribunal under the Income-tax Act, cannot, in any event, extend to the Tribunal under the Wealth Tax Act. The Tribunal has jurisdiction…

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