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Valuation Report of Jewellery once made is effective for Four Assessment Years

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.

Comments

  1. B Stifen31 August 2018 at 16:37

    What a nice post! I need to know about Coral Jewellery & Its Benefits for taking. So, if you have any blog about it, plz share with me.
    Thank you

    ReplyDelete
  2. Prestige Valuations19 February 2020 at 16:08

    Nice. Before reading this I was really not aware that jewellery valuation report is valid for 4 years. Thanks for sharing.

    ReplyDelete

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