1975 (1) TMI 1

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....disposal, this petition under art. 226 of the Constitution is brought up on the ground that r. 1D of the Rules framed under the W.T. Act is not valid, because it is unreasonable or arbitrary. Section 7 of the W.T. Act provides for the procedure for assessing the value of the assets to be charged to wealth-tax. By an amendment of the section, the market value should be estimated to be the price whi....