9911796707
TMI Blog2004 (4) TMI 41X X X X Extracts X X X X X X X X Extracts X X X X ..... alue of Prem Prakash Cinema Building as per finding of the first appellate authority for the assessment year 1979-80 by making enhancement by 10 per cent, in each assessment year over the value adopted for the earlier years?" - When the direction is given that value in the year in hand should be taken by enhancing 10 per cent, in the value taken in the preceding year, that is neither unreasonable ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dopted for the earlier years?" The assessee-Hindu undivided family is a partner in a partnership firm of M/s. S. Zoraster and Co., which, inter alia, owns an immovable property known as Prem Prakash Cinema Building. The assessee-Hindu undivided family declared the value of its interest in the said immovable property at minus figure whereupon the Wealth-tax Officer made a reference under section 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns on the contentions raised by counsel for the parties, we are of the opinion that on the given facts and circumstances of the present case the appreciation of 10 per cent, per annum given for the subsequent years is neither excessive nor unreasonable so as to call for our interference." When the direction is given that value in the year in hand should be taken by enhancing 10 per cent, in the v ..... X X X X Extracts X X X X X X X X Extracts X X X X
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