In Hazi Jahangir Molla Vs. Md. Alim Mallick, the Hon'ble Calcutta High Court decided that Part payment cannot defeat the entire cause of action. Further Even if one person who has no money lending licence cannot be debarred from granting any accommodation loan to his friend or other person on him he has confidence. The opposite party took the accommodation loan and he cannot take the shelter of the money lenders’ act to defraud the person who accommodated him.
The division Bench of the Delhi High Court in Pr.Commissioner of Wealth Tax vs. Raghu Hari Dalmia held that a valuation report made by a registered valuer once adopted shall be in effect for four assessment years unless an event has occurred whereby the value is increased or decreased. The High Court made it clear that the event of “search” under Section 132 of the Income Tax Act, 1961 cannot compel the assessee to undertake a fresh valuation.
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