Wealth Tax-Valuation u/s16A. - Income Tax - 1345/CBDT

INSTRUCTION NO. 1345/CBDT Dated: September 1, 1980 Attention is invited to boards instruction contained in their letters No.326/50/78-WT DATED 27-4-79, 326/50/78-WT dated 30-6-79 and 319/41/79-WT dated the 21st July 1979 wherein it has been specifically instructed that reference for valuation under section 16A of the W.T.Act, 1957 in respect of all fit cases should be made to the valuation cell, without failure. 2. It has been reported by the C AG of India in their report for 1978-79 that cases of non-reference of valuation of properties required to be referred to the departmental valuation cell, continue to be noticed in audit. 3. The board would like to reiterate the instructions in this regard and warn any lapse in this regard shall be viewed seriously. 4. The above may kindly be brought to the notice of all officers.