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2004 (9) TMI 56 - ALLAHABAD HIGH COURTValuation - "1. Whether Tribunal was correct in finding that the assessment order of the Wealth-tax Officer for year under consideration passed on March 27, 1979, after the receipt of the Valuation Officer's report was not erroneous insofar as it was prejudicial to the interest of the Revenue? 2. Whether Tribunal has not misdirected itself in basing its finding that the Valuation Officer's report u/s 16A not being in respect of the year under consideration, the Commissioner was not correct in considering the value of the immovable properties as on March 31, 1971, worked out therein as the basis for holding that the value adopted by the Wealth-tax Officer did not reflect the fair market value of the property within the meaning of section 7(1)?" - We answer both the questions of law referred to us in the negative, i.e., in favour of the Revenue and against the assessee
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