Supreme Court · 2017 INSC 1041 · Decided 13 October 2017
Bimal Kishore Paliwal & Ors v. Commissioner of Wealth Tax
- Court
- Supreme Court of India
- Citation
- 2017 INSC 1041 · [2017] 14 S.C.R. 597
- Case number
- CIVIL APPEAL No. 3836/2011
- Decided
- 13 October 2017
- Bench
- A.K. SIKRI, ASHOK BHUSHAN (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
Wealth Tax Act. 195 7 - ss. 7 and 16-A - Valuation of asset - Method of valuation - Assessees-appellants were partners in a firm A B - One of the assets of the partnership firm was a Cinema building - C Assessing officer made a reference u/s. J 6A to the Department Valuation Officer for valuation basis thereof. Assessing officer assessed the Cinema building adopting the land and building method - Appellate Authority affirmed the assessment made by Assessing Officer - Income Tax Appellate Tribunal (!TAT) accepted the case of the assesses that the proper · D basis for valuing the
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