(1.) PURSUANT to the direction given by this Court in TCP Nos. 314 to 321 of 1979, 322 to 324 of 1979, 409 to 411 of 1979, 412 to 415 of 1975, 388 to 391 of 1979, 45 to 48 of 1980, 163 to 165 of 1980 and 206 to 208 of 1980 dt. 7th July, 1980, the Tribunal referred the following question for the opinion of this Court in the asst. yrs. 1972-73 to 1975-76 in the case of five assessees :
(2.) THESE references relate to WT assessments made in the asst. yrs. 1972-73 to 1975-76. The relevant valuation dates are 31st March, 1972, 31st March, 1973, 31st March, 1974 and 31st March, 1975. The issue involved in these references is the valuation of the properties situated at No. 150-A and 123-A, Mount Road, Madras, in which the assessees had shares as under : <FRM>JUDGEMENT_221_ITR217_1996Html1.htm</FRM>
(3.) SO far as the property at 123, Mount Road, is concerned, the valuation was done by an approved valuer. The valuation of this property had been done by him in three parts :