COMMISSIONER OF WEALTH-TAX Vs. H RAHMAN

JUDGEMENT

(1.) Under Section 27(3) of the Wealth-tax Act, 1957, the Tribunal has stated the following two questions :

(2.) Accordingly, question No. 1 is answered in the negative, i.e., in favour of the Revenue and against the assessee. Question No. 2 is answered in the negative. The Wealth-tax Officer is statutorily bound by the valuation report submitted by the Valuation Officer under Sub-section (5) of Section 16A as provided in Sub-section (6) thereof. The correctness of the valuation report may be challenged in appeal but so far as the Wealth-tax Officer is concerned, he is bound by it.

(3.) The reference is answered accordingly.