1982 (1) TMI 99

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....sst. yr. 1975-76, inter alia, on the following identical ground: "1. On the facts and in the circumstances of the case, the value of the flat in Ansal Bhavan could not be enhanced from Rs. 2,17,500 to Rs. 3,09,000 and on the basis thereof the assessee's shares from Rs. 43,500 and Rs. 87,000 to Rs.61,800 and Rs. 1,23,000 respectively. 2. That on the facts and circumstances of the case, the valuat....

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....date in both the cases is 31st March,1975. The issue pertains to the valuation of a property known us "Ansal Bhavan" in New Delhi. The appellant Shri Mukesh Kumar Agarwal appears to have got 40 per cent share and another appellant Shri R.K. Agarwal 20 per cent Before the ld. WTO, the value of the said property was reflected at Rs. 2,17,500. the WTO perhaps did not agree and, therefore, the matter ....

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....nt Agarwals. 5. During the hearing before us, it was brought to our notice that the ld. AAC failed to examine the objections of the assessee against the valuation report after providing an opportunity to the ld. Valuation Officer as contemplated under s. 23(3A) of the WT Act. The impugned orders are erroneous because of the said omission. The revenue could not contest the correctness of the conte....