Reference to Valuation Officer

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssessee is in accordance with the estimate made by a registered valuer, if the 3[Assessing] Officer is of opinion that the value so claimed 6[is at variance with its fair market value]; (b) in any other case, if the 4[Assessing] Officer is of opinion- (i) that the fair market value of the asset exceeds the value of the asset as claimed by the assessee by more than such percentage of the value ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....lause (r) of section 2 of the Wealth-tax Act, 1957 (27 of 1957).]     ***************** NOTES:- 1.  Inserted vide Section 2 of the Taxation Laws (Amendment) Act, 1972 w.e.f. 01-01-1973 2.  Substituted vide Section 2 of the Direct Tax Laws (Amendment) Act, 1987 w.e.f. 01-04-1988 before it was read as, "Income-tax" 3.  Substituted vide Section 2 of ....