1990 (1) TMI 67

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..... eleting the directions of the Commissioner of Wealth-tax (Appeals) that the assessment should be rectified by substituting the amount finally payable by the Court in respect of compensation ?" In the instant case, the question arises as to the valuation of the right to receive compensation on the valuation date. The Wealth-tax Officer had valued the claim of the assessee on the basis of the asse .....

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..... d. There is no provision in the Wealth-tax Act whereby rectification can be made merely because, at a later date, compensation has been enhanced. The answer to the question, which is proposed, is self-evident and we see no reason as to why a reference should be called for. The petition is, accordingly, dismissed. There will be no order as to costs. Petition dismissed. - - TaxTMI - T .....

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