P.C Malhotra (Huf) vs Wto
2002 Latest Caselaw 278 Del

ORDER

The only question which arises for consideration in this writ petition is as to whether in view of rule 1BB as also the amendment carried out in the Schedule III appended to the Wealth Tax Act, 1957 (hereinafter referred to as 'the Act'), the valuation has to be done afresh by the valuation officer. It appears that the said question is now covered by decisions of the Apex Court in CWT v. Sharvan Kumar Swarup & Sons (1994) 210 ITR 886 (SC) and the Division Bench of this court in Brig. Gurbux Singh v. CWT (1998) 230 ITR 166 (Del).

2. In view of the aforementioned decisions, the impugned cannot be sustained which is set aside accordingly and the respondent No. 1 is hereby directed to carry out the valuation in terms of the aforementioned rules.

2. In view of the aforementioned decisions, the impugned cannot be sustained which is set aside accordingly and the respondent No. 1 is hereby directed to carry out the valuation in terms of the aforementioned rules.

3. Writ petitions are, accordingly, disposed of.

3. Writ petitions are, accordingly, disposed of.