1987 (10) TMI 36

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....led these applications under section 27(3) of the Wealth-tax Act for calling for reference of the following questions of law said to arise out of the order passed by the Income-tax Appellate Tribunal, Delhi Bench B, New Delhi : "1. Whether the Tribunal is justified in upholding the order of the learned Appellate Assistant Commissioner in the facts and circumstances of the case, when both the ap....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....1960] ILR All 71 at page 162 which provides that an award under the Land Acquisition Act which is accepted by the owner is a good piece of evidence regarding the market value of the remaining property in the immediate vicinity?" The assessees were owners of agricultural land which had come to them as a result of partition in the joint family. In the returns filed of movable and immovable proper....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssioner directing the Wealth-tax Officer to take the value of the agricultural land at Rs. 12,000 (per bigha), held that the land of which valuation was to be determined was agricultural land as it was being cultivated, and it was situated away from the main road near a small village. Therefore, the value for which the land situated on the Meerut-Delhi road was sold could not be taken as the basis....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....d, has no merit. Once it has been found that the location of the plot was different, the sale price of plot No. 206 could not furnish material for determination of the value of the plots indispute. The Tribunal thus did not ignore any relevant material. Similarly, question No. 3 does not raise any question of law. It purports to refer to the claims of the petitioner in land acquisition proceedings....