https://www.taxtmi.com/caselaws?id=68724 Valuation provisions that are procedural or machinery in character were applied to pending assessments, so Schedule III to the Wealth-tax Act, read with the Jaipur Development Authority regulations then in force, applied to the house property and made valuation under Rule 8(b) read with Rule 20 inapplicable. The Assessing Officer's reference to the Valuation Officer under section 16A was invalid because it was not backed by reliable material or proper recorded satisfaction; newspaper reports and a vague local inquiry were insufficient, especially where the assessee had filed an approved valuer's report. The departmental valuation was therefore set aside. en-us Thu, 29 Nov 2001 00:00:00 +0530 Fri, 01 Apr 2011 10:55:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68724 Valuation provisions that are procedural or machinery in character were applied to pending assessments, so Schedule III to the Wealth-tax Act, read with the Jaipur Development Authority regulations then in force, applied to the house property and made valuation under Rule 8(b) read with Rule 20 inapplicable. The Assessing Officer's reference to the Valuation Officer under section 16A was invalid because it was not backed by reliable material or proper recorded satisfaction; newspaper reports and a vague local inquiry were insufficient, especially where the assessee had filed an approved valuer's report. The departmental valuation was therefore set aside. Case-Laws Wealth-tax Thu, 29 Nov 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68724