https://www.taxtmi.com/caselaws?id=69832 A departmental valuation report obtained after the original assessment was treated as insufficient, by itself, to constitute fresh "information" for reopening wealth-tax reassessments, so the reassessments were quashed. The claim to value a residential house under section 7(4) failed because the property was not used exclusively for residential purposes, having also contained a consulting room and dispensary. Rule 1BB was nevertheless held applicable to the valuation of both the residential and let out properties, as a mandatory procedural rule operating retrospectively in pending wealth-tax proceedings. en-us Mon, 05 Dec 1983 00:00:00 +0530 Tue, 12 Apr 2011 12:46:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69832 A departmental valuation report obtained after the original assessment was treated as insufficient, by itself, to constitute fresh "information" for reopening wealth-tax reassessments, so the reassessments were quashed. The claim to value a residential house under section 7(4) failed because the property was not used exclusively for residential purposes, having also contained a consulting room and dispensary. Rule 1BB was nevertheless held applicable to the valuation of both the residential and let out properties, as a mandatory procedural rule operating retrospectively in pending wealth-tax proceedings. Case-Laws Wealth-tax Mon, 05 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69832