Frozen residential house valuation under section 7(4) continues for later years unless the earlier valuation is revised.

Section 7(4) freezes the value of a residential house as on 1 April 1971, so the valuation fixed for assessment year 1971-72 governs later years when no revised valuation is pending. The Delhi High Court treated the Tribunal's 1971-72 valuation as operative for assessment years 1974-75 to 1977-78 and declined to direct a reference on a question it considered self-evident, disposing of the petitions without disturbing the concluded valuation. It also preserved liberty to apply for revival if the 1971-72 valuation is later revised.

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Outcome: The petitions seeking reference of a question of law were disposed of and sent to the record, with liberty to seek revival if the valuation for the earlier assessment year is revised.

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