JUDGMENT V.N. Khare, J.
1. The Income-tax Appellate Tribunal, Allahabad, has referred the following question for the opinion of this court :
"Whether, on the facts and in the circumstances of the case, and in view of the provisions of Section 16A(6) of the Wealth-tax Act, 1957, the Wealth-tax Officer is not statutorily obliged to adopt the valuation estimated by the Valuation Officer under Section 16A(5) of the Wealth-tax Act and complete the assessment in conformity with the estimate of the Valuation Officer ?"
2. To give the factual background of this case, the assessee-respondent filed a report of the valuer in support of the valuation of his property before the Wealth-tax Officer. The Wealth-tax Officer did not accept the said report of the valuer and instead referred the matter to the Valuation Officer under Section 16A, Sub-section (1) of the Wealth-tax Act. The Valuation Officer submitted the report regarding valuation of the property of the assessee. The Wealth-tax Officer accepted the same and made the assessment in conformity with the report of the Valuation Officer. However, on appeal, the Appellate Assistant Commissioner allowed the appeal and set aside the order passed by the Wealth-tax Officer. On second appeal, the order of the Appellate Assistant Commissioner was confirmed. At the instance of the Revenue, the above question has been referred to this court for opinion under Section 27(3) of the Wealth-tax Act, 1957. An identical question came up before this court in the case of CWT v. Dr. H. Rahman [1991] 189 ITR 307, wherein it was held that the Wealth-tax Officer having called for the report of the Valuation Officer under Section 16A(1) of the Act is required to pass the assessment order in conformity with the said report. In view of the decision referred to above, we are of the view that when the Wealth-tax Officer calls for a report from the Valuation Officer under Section 16A(1) of the Act and the same is submitted to him, the Wealth-tax Officer has no option except to proceed to complete the assessment in conformity with the assessment of the Valuation Officer in so far as the valuation of the asset in question is concerned. In view of this, our reply to question No. 1 is in the negative, i.e., in favour of the Revenue and against the assessee. Since none appears on behalf of the assessee, there shall be no order as to costs.