https://www.taxtmi.com/caselaws?id=23499 Section 7(4) freezes the value of a residential house as on 1 April 1971, so the valuation fixed for assessment year 1971-72 governs later years when no revised valuation is pending. The Delhi High Court treated the Tribunal's 1971-72 valuation as operative for assessment years 1974-75 to 1977-78 and declined to direct a reference on a question it considered self-evident, disposing of the petitions without disturbing the concluded valuation. It also preserved liberty to apply for revival if the 1971-72 valuation is later revised. en-us Tue, 05 Dec 1989 00:00:00 +0530 Sat, 19 Dec 2009 17:37:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23499 Section 7(4) freezes the value of a residential house as on 1 April 1971, so the valuation fixed for assessment year 1971-72 governs later years when no revised valuation is pending. The Delhi High Court treated the Tribunal's 1971-72 valuation as operative for assessment years 1974-75 to 1977-78 and declined to direct a reference on a question it considered self-evident, disposing of the petitions without disturbing the concluded valuation. It also preserved liberty to apply for revival if the 1971-72 valuation is later revised. Case-Laws Wealth-tax Tue, 05 Dec 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23499