P C MALHOTRA Vs. WEALTH TAX OFFICER

JUDGEMENT

(1.) THE only question which arises for consideration in this writ petition is as to whether, in view of r. 1BB as also the amendment carried out in the Sch. III appended to the WT Act, 1957 ('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 vs. Sharvan Kumar Swarup & Sons (1994) 122 CTR (SC) 380 : (1994) 210 ITR 886 (SC) and the Division Bench of this Court in Brig. Gurbux Singh vs. CWT (1998) 230 ITR 166 (Del).

(2.) IN view of the aforementioned decisions, the impugned valuation 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.