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2002 (8) TMI 99 - HC - Income TaxWealth Tax, Net Wealth, Valuation Of Films - "Whether on the facts and circumstances of the case, the Tribunal was right in directing the Wealth-tax Officer to adopt the value determined by the actual collection made from exploitation of the films for the purpose of inclusion in the net wealth?" - it is not possible for us to uphold the order of the Tribunal. The test suggested by the Tribunal more particularly with reference to the date of valuation tends to be arbitrary. We, therefore, answer the question against the Revenue and in favour of the assessee. As a result of this, the natural consequence would be the revival of the appellate order but we do not approve of that order either because though the actual cost of the films is undoubtedly is a relevant factor, it is not the be all and end all of the matter in the matter of valuation of the films. In our opinion, therefore, the matter will have to be re-heard and decided by the Tribunal and the Tribunal would then decide the question of valuation
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