DIPAK KUMAR SEN, J.

( 1 ) THE material facts and proceedings leading up to this reference are, inter alia, that Smt. Manjushree Biswas, the assessee, at the material time had one-fiftieth share in premises No. 8/1, Middleton Raw, Calcutta. The said premises consist of land measuring about 75 cottahs, with structures covering about 17 cottahs. At the material time, the said premises were being used for the purpose of residence, by the assessee and her co-sharers.

( 2 ) THE assessee was assessed to wealth-tax for the assessment year 1977-78. In making the assessment, the Wealth-tax Officer referred the matter to the District Valuation Officer under Section 16a of the Wealth-tax Act, who estimated the value of the said premises at Rs. 59,98,000. On the basis of the said report of the District Valuation Officer, the value of the share of the assessee in the said premises was determined and her net wealth was computed accordingly.

( 3 ) BEING aggrieved, the assessee preferred an appeal before the Appellate Assistant Commissioner who proceeded to determine the value of the said premises in two separate units, one being vacant land of about 55 cottahs and the other being land of about

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