1982 (11) TMI 69

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....tuated in Bhadaur House at Ludhiana. The said property was since situated in a commercial complex, the WTO enhanced the valuation from Rs. 1,34,511 shown by the assessee to Rs. 2,32,781 by multiplying the net rental income with 17. The WTO also observed besides the said property being in commercial complex that in respect of another property valued by the assessee at Rs. 30,000 the assessee had ap....

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....Prem Nath Anand (1977) 108 ITR 549 (P&H). The ld. departmental representative submitted that he relied on every word of the AAC's order but he was unable to controvert the fact that in the immediately succeeding year in assessee's own case, the AAC has applied multiple of 12, and while doing so he placed reliance on the Punjab & Haryana High Court decision referred to above. 3. After taking int....