Delay in valuation reports. - Income Tax - 1093/CBDT

INSTRUCTION NO. 1093/CBDT Dated : September 1, 1977 Section(s) Referred: Rule 8D of W.T.Rules Statute: Wealth Tax Act, 1957 It has been pointed out by the Chief Engineer (Valuation), that the valuation reports in regard to references made to the Valuation Officers are delayed in a number of cases because the registered valuers do not furnish their valuation reports, in the form prescribed under the W.T.Rules and do not give all the required information. 2. The Board desire that you should kindly advise the registered valuers falling in your charge to strictly follow the provisions of Rule 8 D and ensure that the valuation reports are submitted by them in the prescribed form and also the necessary information and documents are supplied along with the report. It may further be impressed upon them that non-compliance with the relevant provisions shall be construed as mis-conduct in professional capacity within the meaning of section 34AD(1)(ii) of the W.T.Act and make them liable to be removed from the register of valuers.