Law: Wealth Tax Act, (XV of 1963)

Section: 16,16(3),17B

Wealth Tax Act (XV of 1963)---Ss. 16(3) & 17-B---Refraining of assessment in view of order of Revising Authority---Pendency of appeal before Tribunal against order of Revising Authority---First Bench of Tribunal vacated order of Revising Authority---Appellate Authority in view of order of First Bench of Tribunal vacated order of Assessing Officer refraining assessment---Second Bench of Tribunal in appeal by department set aside order of Appellate Authority while observing that order of First Bench of Tribunal had no force in law---Assessee's appeal against order of Second Bench of Tribunal and Department's appeal against order of First Bench of Tribunal---Validity---Second Bench of Tribunal on judicial courtesy should not have proceeded to decide matter in presence and availability of of a Bench of equal strength in favour of assessee on same legal and factual issues---Such matter ought to have been referred to Chairman for Constitution of a Larger Bench---High Court set aside both impugned order and remanded case to Chairman for Constitution of a Full Bench or Larger Bench not comprising any member of two Division Benches, which had earlier decided appeals. JUDGMENT NASIM SIKANDAR, J.---Before us these are two sets of appeals under section 27 of the Wealth Tax Act, 1963, one by the Department (W.T.As. Nos. 112 to 126 of 2002) and the other (W.T.As. Nos.508 to 516 of 2003) by the taxpayers /asses sees of the Wealth Tax Department. 2. The individuals-respondents in W.T.As. 112 to 126 of 2002 were assessed to wealth tax at various amounts. The assessments so framed were however, revised by the IAC, Sialkot under section 17-B of the Wealth `Tax Act, 1963 on 17-11-2001 on the ground that these were erroneous and prejudical to the interest of the Revenue. The main reason for reaching that conclusion being that the properties declared by the assessee were assessed on estimate basis without taking into consideration the rates notified by the District Collector. According to the Revising Authority the Assessing Officer was required to apply these rates under Rules 8(3) of the Wealth Tax Act, 1963. All assessments were accordingly remitted to the Assessing Officer…

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