1996 (2) TMI 68

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nt (Commissioner of Wealth-tax, Bhopal) has filed this application under section 27(3) of the Wealth-tax Act, 1957 (for short "the Act"), seeking direction to the Tribunal to state the case and refer the proposed two questions of law, as extracted below, arising out of the order dated January 17, 1990, passed by the Tribunal in WTA Nos. 36 and 65/Ind of 1989 relating to the assessment year 1986-87....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ps on a leasehold land. For the assessment year 1986-87, the assessee declared the value of the shops at Rs. 3,48,089 on the basis of cost of construction which she subsequently revised on the basis of the approved valuer's report indicating Rs. 4,30,000. In the assessment, for the assessment year 1986-87, the Wealth-tax Officer on the basis of the report of the Departmental Valuer determined the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t. be applied on deposits instead of 15 per cent. as applied by the Valuation Officer. The Department felt aggrieved by the order of the Tribunal and thus filed the application under section 27(1) of the Act. The application, as registered R. A. No. 58/Ind of 1990, was rejected on November 30, 1990. The Department has then filed this application. We have heard Shri D. D. Vyas, learned counsel f....