COMMISSIONER OF WEALTH TAX Vs. ATTAR SINGH

JUDGEMENT

(1.) THE petitioner is seeking reference of the following question of law to this Court :

(2.) IN the instant case, the question arises as to the valuation of the right to receive compensation on the valuation date. The WTO had valued the claim of the assessee on the basis of the assessee's demand for enhancement. In appeal, it was held that it was merely a claim and that therefore, it was not proper to place any value on the claim. The appellate authority, however, gave a direction that, as and when the appeal to the High Court or the Supreme Court was allowed and if any enhancement in the compensation is allowed, then the WTO would be at liberty to rectify the assessment and value the claim in the light of the enhancement. The assessee went up in appeal and the Tribunal came to the conclusion that this direction could not be given. In our opinion, the question sought to be raised is concluded by a decision of this Court in CWT vs. S. K. Dass (1986) 51 CTR (Del) 232 : (1986) 161 ITR 292 (Del) : TC67R.938, according to which the valuation is to be as on the basis of the award or order already passed. There is no provision in the WT Act whereby rectification can be made merely because, at a later date, compensation has been enhanced. The answer to the question, which is proposed, is self -evident and we see no reason as to why a reference should be called for. The petition is, accordingly, dismissed.