TMI Blog1996 (2) TMI 99X X X X Extracts X X X X X X X X Extracts X X X X ..... ct, 1953, as a result of the order dated March 28, 1988, passed by the Tribunal on Application No. 54/(Ind) of 1987 which was preferred in connection with the order dated July 3, 1987, by the Tribunal in E. D. A. No. 6/(Ind) of 1986. Briefly stated, the facts of the case are that the original assessee who owned the house situated in Sanghi Street, Mhow, is now represented by the accountable pers ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the proposed questions was also rejected. The applicant, then, filed this application under section 64(3) of the Estate Duty Act. We have heard Shri D. D. Vyas, learned counsel for the applicant, and Shri B. K. Joshi, learned counsel for the accountable person. In the aforesaid application, the applicant has proposed the undernoted two questions for direction : " (1) Whether, on the facts ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ure, was retrospective in operation. In view of this position, question No. 1 noted above is not pressed before us. As regards question No. 2, the position is that the accountable person himself had valued the house at Rs. 1,50,000 for the purpose of estate duty. That being so, the question of law is "whether on application of the aforesaid rule lesser value can be accepted for the purpose of es ..... X X X X Extracts X X X X X X X X Extracts X X X X
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