1979 (12) TMI 92 - AT - Wealth-tax

Summary

The Appellate Tribunal ITAT DELHI heard four appeals under the WT Act for the years 1971-72 to 1974-75 by the assessee, a HUF. The dispute was over the valuation of a property on Delhi Rohtak Road. The assessee valued the property at Rs. 2,12,000.00 for the first three years and Rs. 2,17,000.00 for the fourth year. The WTO valued the property higher for each year. The Tribunal decided to adopt the value of Rs. 2,12,000.00 for the years 1973-74 and 1974-75 with an increase of Rs. 25,000.00, making it Rs. 2,37,000.00 for each of those years. The appeals were partly allowed.