COMMISSIONER OF GIFT TAX Vs. HANS RAJ

JUDGEMENT

(1.) HEARD .

(2.) AT the instance of revenue, following question has been referred for opinion of this Court under s. 26(1) of the GT Act, 1958 ('the Act') by the Tribunal, Delhi Bench 'C' :

(3.) IT is not in dispute that rent capitalisation method is one of the approved methods of the valuation of an immovable property, which is let out. Findings of the Tribunal to which we have made reference above are essentially factual. That being the position, in our view, no question of law arises which is to be answered. We, therefore, decline to answer the question referred.