Supreme Court of India
Bimal Kishore Paliwal & Ors v. Commissioner of Wealth Tax
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We are of the view that the High Court did not commit any error in interfering with the order ofITAT. E.
Judgment, page 17
From the headnote
Wealth Tax Act. 195 7 - ss. 7 and 16- - Valuation of asset - Method of valuation - Assessees-appellants were partners in a firm - One of the assets of the partnership firm was a Cinema building - Assessing officer made a reference u/s. J 6A to the Department Valuation Officer for valuation of Cinema .building - On the basis thereof. Assessing officer assessed the Cinema building adopting the land and building method - Appellate Authority affirmed the assessment made by Assessing Officer - Income Tax Appellate Tribunal (!TAT) accepted the case of the assesses that the proper · basis for
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