1990 (1) TMI 29 - HC - Wealth-tax

Summary

The High Court of Delhi dismissed two petitions regarding the valuation of a property at No. 34, Najafgarh Road for assessment years 1977-78 and 1978-79. The Income-tax Appellate Tribunal valued the property at Rs. 51,728, contrary to the initial valuation of Rs. 4,08,212 by the Wealth-tax Officer. The court upheld the Tribunal's decision, stating that the value of the property is a question of fact, and there was no merit in the petition.