https://www.taxtmi.com/caselaws?id=22473 In capital gains computation, the Tribunal was justified in restoring the Income-tax Officer's valuation of the property where it rejected the assessee's registered valuer's report and relied on later admitted valuation evidence to infer that the asset could not have carried the same value on 1 January 1964. The valuation finding was treated as one based on evidence and, not being shown to be perverse or unsupported by material, was not open to interference in reference proceedings under section 256(2). The matter was also clarified not to involve a reference under section 55A, and no question was directed to be referred. en-us Tue, 08 Jan 1991 00:00:00 +0530 Thu, 10 Dec 2009 12:45:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22473 In capital gains computation, the Tribunal was justified in restoring the Income-tax Officer's valuation of the property where it rejected the assessee's registered valuer's report and relied on later admitted valuation evidence to infer that the asset could not have carried the same value on 1 January 1964. The valuation finding was treated as one based on evidence and, not being shown to be perverse or unsupported by material, was not open to interference in reference proceedings under section 256(2). The matter was also clarified not to involve a reference under section 55A, and no question was directed to be referred. Case-Laws Income Tax Tue, 08 Jan 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22473