DILIP KUMAR MITRA Vs. COMMISSIONER OF WEALTH TAX

JUDGEMENT

(1.) This consolidated reference under Section 27(1) of the Wealth-tax Act, 1957, at the instance of the legal representative of the deceased assessee relates to four assessment years 1972-73 to 1975-76. The question concerns valuation of the house properties of the assessee, since deceased, owned on the respective valuation dates. The original assessment was completed on the value as returned for the respective assessment years. The properties and their values returned were as follows : <FRM>JUDGEMENT_336_ITR200_1993Html1.htm</FRM>

(2.) The Wealth-tax Officer later noticed that the Valuation Officer had determined the value of those properties differently as mentioned below: <FRM>JUDGEMENT_336_ITR200_1993Html2.htm</FRM>

(3.) Out of the said properties, the property at 86/1, Suren Sarkar Road, was leased out for non residential purposes and the other two properties were leased out for residential purposes.