COMMISSIONER OF WEALTH TAX Vs. S K DASS

JUDGEMENT

(1.) THESE are six applications under S. 27(3) of the WT Act, 1957, relating to the valuation of a property in dispute. The property in dispute was acquired under the Land Acquisition Act on 19th Nov.,1966. For the asst. yrs. 1967 -68 and 1969 -70 to 1973 -74, the assessee returned the valuation of the property for purposes of wealth -tax at the figure of compensation which he received from the Land Acquisition Collector. When the matter came up for assessment before the WTO, the WTO fixed the valuation at the figure which the assessee had claimed before the High Court by way of enhancement of compensation.

(2.) THE assessee took up the matter in appeal before the CWT(A). The CWT (A) accepted the valuation as given by the assessee, namely, the compensation received by him from the Collector because the subsequent enhancement done by the district judge was not done during the relevant assessment years.

(3.) THEREAFTER , the CWT applied for referring certain questions to the High Court but the Tribunal declined to refer the same and thereafter the present applications were filed.