https://www.taxtmi.com/caselaws?id=357111 Under the Third Schedule to the Wealth Tax Rules, jewellery and other assets are to be valued with reference to the valuation date, and the value fixed for one assessment year continues for the next four assessment years subject to specified adjustments. A fresh valuation is not required merely because a search has occurred unless the law itself mandates it. On the facts, the assessees could rely on the existing operative valuation report, so the later report was not to be adopted for wealth-tax purposes. en-us Wed, 14 Mar 2018 00:00:00 +0530 Thu, 31 May 2018 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357111 Under the Third Schedule to the Wealth Tax Rules, jewellery and other assets are to be valued with reference to the valuation date, and the value fixed for one assessment year continues for the next four assessment years subject to specified adjustments. A fresh valuation is not required merely because a search has occurred unless the law itself mandates it. On the facts, the assessees could rely on the existing operative valuation report, so the later report was not to be adopted for wealth-tax purposes. Case-Laws Wealth-tax Wed, 14 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357111