https://www.taxtmi.com/caselaws?id=25172 The court ruled in favor of the assessee, holding that the Tribunal erred in not applying rule 1BB of the Wealth-tax Rules, 1957 retrospectively. The valuation of the property for subsequent assessment years should not be bound by the assessment year 1977-78 without revaluation under the relevant rules. The court concluded that the assessee was entitled to have the property revalued under rule 1BB for the relevant assessment years. The reference was disposed of with no order as to costs. en-us Mon, 11 May 1987 00:00:00 +0530 Mon, 25 Jan 2010 17:27:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25172 The court ruled in favor of the assessee, holding that the Tribunal erred in not applying rule 1BB of the Wealth-tax Rules, 1957 retrospectively. The valuation of the property for subsequent assessment years should not be bound by the assessment year 1977-78 without revaluation under the relevant rules. The court concluded that the assessee was entitled to have the property revalued under rule 1BB for the relevant assessment years. The reference was disposed of with no order as to costs. Case-Laws Wealth-tax Mon, 11 May 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25172