https://www.taxtmi.com/caselaws?id=17559 Valuation reference for the petitioners' properties under the wealth-tax and income-tax provisions was upheld because the Court found no arbitrariness or illegality on the facts presented. The reference was justified as being made to determine capital gains liability and deemed gift liability, and the respondents also relied on pending related assessment or reassessment proceedings involving a connected partner. The Court held that the authorities cited by the petitioners did not assist on these facts and found no ground for interference in writ jurisdiction. en-us Tue, 09 Jul 1996 00:00:00 +0530 Wed, 23 Sep 2009 12:52:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17559 Valuation reference for the petitioners' properties under the wealth-tax and income-tax provisions was upheld because the Court found no arbitrariness or illegality on the facts presented. The reference was justified as being made to determine capital gains liability and deemed gift liability, and the respondents also relied on pending related assessment or reassessment proceedings involving a connected partner. The Court held that the authorities cited by the petitioners did not assist on these facts and found no ground for interference in writ jurisdiction. Case-Laws Income Tax Tue, 09 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17559