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Judgment
Delay is condoned.
Leave is granted limited to the question on which notice was ordered. The question reads thus :
Whether, on the facts and in the circumstances of the case, Tribunal was legally correct in upholding the valuation of cold storage by average of land and building and yield method as against the valuation of the above property on land and building method adopted in view of the DVO''s report contained (sic) by the AO on a legally valid reference ?
Heard the learned Counsel for the parties.
Inasmuch as the WTO had adopted the average of land and building and yield method and arrived at the assessable value of the assets and the same has been confirmed by the Tribunal it is on that basis the Tribunal declined to refer the aforementioned question to the High Court for its opinion u/s 27(1) of the WT Act. The High Court also declined to call for a reference on the application u/s 27(3) of the Act. In the facts and circumstances of the case we do not think that interference by this Court is called for. The appeal is, therefore, dismissed.