CHINTAMANI AND SONS Vs. COMMISSIONER OF WEALTH TAX

JUDGEMENT

(1.) THE Point involved in this case is with regard to the valuation of a property owned by the assessee. Following the decision of this Court in Rajshuri vs. CWT (1987) 163 ITR 473, we direct the Tribunal to state the case and refer the following question of law to this Court : "Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that the proper method of valuation was the land and building method and not the rent capitalisation method" There will be no older as to costs.