https://www.taxtmi.com/caselaws?id=6005 Where the Tribunal's valuation conclusion depended on a legal issue, namely whether the potential value of land could be added in assessing the assessee's right in the property, a question of law arose for the High Court's consideration. The Tribunal's reliance on an earlier High Court decision did not justify refusing a reference, because the legal basis of the valuation dispute required judicial determination on merits. The assessee's contention that valuation should be made under rule IBB of the Wealth-tax Rules, 1957, was also left open for the High Court. The refusal to refer was held unsustainable, the orders were set aside, and the Tribunal was directed to state the case and refer the question. en-us Thu, 07 Dec 2000 00:00:00 +0530 Sun, 30 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6005 Where the Tribunal's valuation conclusion depended on a legal issue, namely whether the potential value of land could be added in assessing the assessee's right in the property, a question of law arose for the High Court's consideration. The Tribunal's reliance on an earlier High Court decision did not justify refusing a reference, because the legal basis of the valuation dispute required judicial determination on merits. The assessee's contention that valuation should be made under rule IBB of the Wealth-tax Rules, 1957, was also left open for the High Court. The refusal to refer was held unsustainable, the orders were set aside, and the Tribunal was directed to state the case and refer the question. Case-Laws Wealth-tax Thu, 07 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6005