AJIT K. SENGUPTA, J.

( 1 ) THIS consolidated reference under Section 27 (1) of the Wealth-tax Act, 1957, at the instance of the legal representative of the deceased assessee relates to four assessment years 1972-73 to 1975-76. The question concerns valuation of the house properties of the assessee, since deceased, owned on the respective valuation dates. The original assessment was completed on the value as returned for the respective assessment years. The properties and their values returned were as follows :

Name of the property Value returned for the assessment years (Rs.) 86/1, Suren Sarkar Road 56,400 4, Ram Mohan Roy Road 38,500 34 and 34a, Motilal Basak Lane 1,15,000

 

( 2 ) THE Wealth-tax Officer later noticed that the Valuation Officer had determined the value of those properties differently as mentioned below:

 

1975-76

(Rs.)

(i) 86/1, Suren Sarkar Road 1,16,500 1,16,500 1,16,500 1,16,500 (ii) 4, Ram Mohan Roy Road -- 53,500 60,500 58,000 (iii) 34 and 34a, Motilal Basak Lane -- 1,44,000 1,49,000 1,41,000

Name of the property Assessment years 1972-73

(Rs.)

1973-74

(Rs.)

1974-75

(Rs.)

 

( 3 ) OUT of the said properties, the property a

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