https://www.taxtmi.com/caselaws?id=14863 Wealth-tax valuation must be determined separately with reference to the relevant valuation date for each assessment year, and a valuation report for an earlier year cannot automatically control later years. The Commissioner's direction to redo the assessments without binding the Assessing Officer to adopt the earlier valuation was therefore proper. The Tribunal erred in modifying that direction and in requiring the later assessments to be finalised on the basis of the value fixed for the prior year; the referred question was answered in favour of the Revenue and against the assessee. en-us Mon, 30 Nov 1998 00:00:00 +0530 Thu, 23 Jul 2009 16:41:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14863 Wealth-tax valuation must be determined separately with reference to the relevant valuation date for each assessment year, and a valuation report for an earlier year cannot automatically control later years. The Commissioner's direction to redo the assessments without binding the Assessing Officer to adopt the earlier valuation was therefore proper. The Tribunal erred in modifying that direction and in requiring the later assessments to be finalised on the basis of the value fixed for the prior year; the referred question was answered in favour of the Revenue and against the assessee. Case-Laws Wealth-tax Mon, 30 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14863