Court : Chennai
Reported in : 2001(131)ELT14(Mad); [2002]254ITR717(Mad); (2001)2MLJ581; 2006[2]STR466; [2007]6STT183
..... who argued the matter on behalf of the petitioner-institute, is that the finance act does not apply to the members of the petitioner-institute at all as the 'registered valuers' cannot be brought in the definition of the term 'consulting engineer' nor can the 'services' that they render be said to be a 'taxable service' by ..... therefore, accept the contention raised by the petitioner that such engineers who offer advice in their capacity as the 'registered valuers' of immovable property or plant and machinery cannot be brought into the tax net under section 65(11) read with section ..... section 34ac specifically provides that no person who is not registered under this chapter could practice or describe or hold himself out as a registered valuer for the purposes of this act.it is the case of the petitioner that the members of the petitioner-institution are 'registered valuers' and they cannot be deemed to be 'consulting engineers' under the provisions ..... it is presumably this communication which is challenged in the present petition and the main contention is that the registered valuers who are acknowledged as such under section 34ab of the wealth-tax act would not be covered by the provisions of the finance act which provisions came to be made applicable by section 88, ..... the learned counsel for the petitioner pointed out that it is not necessary that every registered valuer of immovable property should be a graduate in engineering and that the advice offered by him need not necessarily .....
Tag this Judgment!Court : Mumbai
Reported in : [2007]291ITR513(Bom)
..... the above observations of the hon'ble high court as also other decisions relied upon by the assessee are in the context of estimate made by the registered valuer/departmental valuer vis-a-vis the actual cost of construction shown by the assessee as per his books. ..... it has also been vehemently argued before us that long-term capital loss was computed by the assessee on the basis of the registered valuer's report and long-term capital gain has been computed on the basis of the dvo's report. ..... in the case before us, the difference in the valuation between the registered valuer and the dvo arose on account of incorrect application of the principles of valuation or non-adherence thereto by the registered valuer as against the valuation made by the dvo as per accepted norms of valuation which valuation has been accepted by the assessee.14 ..... records do not show that either the assessee or the registered valuer raised any worthwhile objection to the report furnished by the dvo.12 ..... the revenue authorities have recorded the finding that all was not well with the valuation made by the registered valuer and significant omissions on the part of the registered valuer have been brought on record inasmuch as even the sale instances relevant for the purpose of valuation had not been relied upon by the registered valuer. ..... the assessee cannot take shelter under a report of a registered valuer which is found by the revenue authorities to have been prepared without due regard to the accepted principles of .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : [1991]188ITR741(MP)
..... been provided that the sub-rules as they stood immediately before the amendment shall continue to apply in the case of a person whose name is included in the register of valuers immediately before the first day of june, 1988, and who makes an application for continuation of his registration as a valuer under sub-section (1) of section 34ae, subject to the conditions mentioned in the rules, notwithstanding the provisions contained in sub-rules (2), (6), (7), (8) and (11), ..... body constituted under the central boards of revenue act, 1963, and was empowered to deal with and issue licences to the registered valuers of immovable properties prior to the amendment of section 34ab of the act by the finance act, 1988, with effect from june ..... taxes (hereinafter called 'the board') was empowered to register persons possessing the requisite qualifications as registered valuers under the wealth-tax rules, 1957 (hereinafter called 'the rules')- the petitioner possessing the requisite qualifications for registration as a valuer applied to the board for getting himself registered as a valuer, vide application dated september 22, 1987. ..... replying to the queries the petitioner expected that he would be registered as a registered valuer, but the board again raised objections and called for more information ..... to the persons applying for fresh registration shall be applicable in the case of persons who are already registered as valuers and who apply afresh underthe provisions of section 34ae of t.he act. .....
Tag this Judgment!Court : Mumbai
Reported in : 2002(3)BomCR431
..... government registered valuer to the appropriate government to take suitable corrective measures including to examine as to whether he should be allowed to practice as government registered valuer in future ..... appointment of any person as a government registered valuer is bestowing recognition of expertise and integrity on ..... obvious that shri maniyar in his quest to favour the claimants has indulged in acts unbecoming of any government registered valuer or for that matter any qualified and practicing architect, engineer, valuer or surveyor. ..... shri maniyar virtually wore the shoes of claimants- for obvious reasons, thereby completely over-looking the role and duty of any government registered valuer. ..... has completely glossed over the role and duty of a government registered valuer. ..... unbecoming of any government registered valuer. ..... is a government registered valuer. ..... is a government qualified registered valuer. ..... would also think it appropriate to refer his case to the institute of engineers, institute of valuers and institute of surveyors with whom he is associated, for taking appropriate corrective action against him. ..... 1 and who is a qualified civil engineer and member of institute of engineers, fellow of institute of valuers, fellow of institute of surveyors, has, by his act of omission and commission, attempted to mislead this court by giving ..... witness has produced the valuation report prepared by him as well as the certified copy of the registered deed of conveyance in respect of instance no. .....
Tag this Judgment!Court : Mumbai
Reported in : 2002(6)BomCR297
..... gives evidence before the court in reference application as well and in performing his professional duty of opining on fair valuation of property under acquisition in proceedings before the land acquisition officer as also before the court, a valuer cannot be charged with dereliction of duty or wearing the shoes of the claimants or with overlooking the role and duty of a government registered valuer solely on the ground that his valuation report is not accepted by the court. ..... , government registered valuer to the appropriate government to take suitable corrective measures including to examine as to whether he should be allowed to practice a government registered valuer in future ..... appointment of any person as a government registered valuer is bestowing recognition of expertise and integrity on that ..... is obvious that shri maniar in his quest to favour the claimants has indulged in acts unbecoming of any government registered valuer or for that matter any qualified and practising architect, engineer, valuer or surveyor. ..... shri maniar virtually wore the shoes of claimants for obvious reasons, thereby completely overlooking the role and duty of any government registered valuer. ..... has completely glossed over the role and duty of a government registered valuer. ..... unbecoming of any government registered valuer. ..... he submitted that the appellant as a valuer by the government and he has been merely registered as an approved valuer and therefore question of discharging any public duty simply does .....
Tag this Judgment!Court : Delhi
Reported in : (2004)91TTJ(Del)1088
..... 3 of the order that the dvo had calculated the cost of construction by applying the plinth area rate of cpwd which were meant for fci godowns and the registered valuer had estimated the cost of construction by estimating the actual material used therein. ..... been held by the commissioner (appeals) that the basic difference in the cost of construction is on account of the fact that the dvo has applied the cpwd rates meant for construction of fci godowns whereas the registered valuer has calculated it on the basis of actual consumption of raw material and labour. ..... on the other hand, the report of the registered valuer is also not reliable for the reasons that firstly, no details were kept by the assessed for actual use of raw material and labour and hence, only a guess work has been made by the registered valuer. ..... hence, the valuation of registered valuer is definitely very low. ..... both the assessments of the dvo as well as registered valuer cannot be called correct. ..... the registered valuer has valued the cost of construction at rs. ..... the registered valuer has taken the period of construction as financial years 1988-89 to 1991-92. ..... it has been observed by the assessing officer that the valuer whose report has been filed by the assessed does not show the basis on which the rates have been determined by the valuer. .....
Tag this Judgment!Court : Delhi
Reported in : (2004)90TTJ(Del)316
..... (g), (h) and (i) which were not referred to the vo, we find that the assessed has furnished a report from registered valuer regarding purchase consideration and sale consideration, these properties were also declared to the it department much before search and seizure operation and profits earned on the sale of these properties was offered ..... commissioner (appeals) directed to adopt the purchase consideration on the basis of the registered valuer's report and not on the basis of purchase consideration declared by the assessed ..... veena jain on the basis of valuation report of the registered valuer as against the actual price at which these properties were ..... f-1-u/8, pitampura, delhi based on the report of registered valuer as against the value adopted by the assessing officer on the basis ..... the assessing officer has clearly omitted to consider that he was not an expert on the subject and, thereforee, he could not superimpose his own opinion on the opinion of the registered valuer who was an expert on the subject. ..... by the assessed to be his own be computed on the basis of report of registered valuer as against the report of the vo.45. ..... that the appellant has filed a report from the registered valuer estimating the cost of purchase. ..... the registered valuer has estimated the ..... ) deleted bulk of the additions made by the assessing officer, he held that the cost of purchases/construction estimated by the vo should be replaced by the cost of purchases/construction as estimated by the registered valuer. .....
Tag this Judgment!Court : Gujarat
Reported in : (1980)15CTR(Guj)32; [1980]124ITR862(Guj)
..... it appears that a letter was addressed on 10th december, 1975, to the competent authority by the registered valuers of the transferors setting out their additional objections to the two sale instances relied on by the district valuation officer in his first report submitted to the competent authority on the basis of which the ..... the transferors have forwarded the comments of their registered valuers by their memorandum of july 31, 1975, which was submitted on behalf of the transferors ..... the competent authority by his letter of december 23, 1975, acknowledged the need for a discussion as a result of the report of the registered valuers of the transferors submitted to the competent authority. ..... an order on march, 31, 1976, in the following terms after consideration of the objections of the transferors and transferees as well as the reports of their registered valuers and the material on his record : '35. ..... also filed further comments of their registered valuers in respect of the two sale instances in favour of the lic by letter of their valuers of 30th january, 1976. 7 ..... grant the prayer of the transferors and the transferees for examining the witnesses in connection with the sales in favour of the lic, but has also failed to record the evidence of the registered valuers of the transferors and transferees. 21. ..... to these counter-comments, the registered valuers of the transferors by their letter of december 17, 1975, offered further remarks on the aforesaid counter-comments of the district .....
Tag this Judgment!Court : Rajasthan
Reported in : (1999)157CTR(Raj)369; [2000]242ITR478(Raj); 2000(2)WLC376
..... for the purposes of this chapter, the assessing officer may refer the valuation of a capital asset to a valuation officer- (a) in a case where the value of the asset as claimed by the assessee is in accordance with the estimate made by a registered valuer, if the assessing officer is of opinion that the value so claimed is less than its fair market value ; (b) in any other case, if the assessing officer is of opinion- (i) that the fair market value of the asset exceeds the ..... , in a case where the value of the asset is claimed by the assessee on the basis of regular books of account maintained for the purpose of construction of the asset and not on the basis of the valuation of the registered valuer, it will not be open for the assessing officer to make a reference to the district valuation officer unless the assessing officer forms an opinion that having regard to the nature of the asset and other relevant circumstances, it is ..... in case, the assessee has not maintained the regular books of account of the construction of asset and he relies upon the reports of the registered valuer, it will be open for the assessing officer under the provisions of section 55a of the act to refer to the district valuation officer for valuation of the ..... of the eventualities is where the value of the asset as claimed by the assessee is in accordance with the assessment made by the registered valuer and in the opinion of the assessing officer, the value so claimed is less than its fair market value. .....
Tag this Judgment!Court : Chennai
Reported in : (2001)165CTR(Mad)153; [2001]249ITR424(Mad)
..... pursuant to the agreement between the petitioner and the fifth respondent to exchange the properties mutually, they sought the assistance of a registered valuer to arrive at the terms of exchange after considering the nature of the properties and all relevant and connected matters in regard ..... apart from submitting detailed objections, the petitioner submitted valuation reports as well as detailed technical objection from a registered valuer apart from its own objections objecting to the assumption of the first respondent that there was an undervaluation of the petitioner's property and that the presumption of attempt to evade tax ..... the petitioner also submitted valuation reports as well as detailed technical objection from a registered valuer apart from its own objections objecting of the assumption of the first respondent that there was an undervaluation of the petitioner's property and that the presumption of attempt to evade tax ..... further seen that pursuant to the said agreement between the petitioner and the fifth respondent to exchange the properties mutually, they sought the assistance of a registered valuer to arrive at the terms of exchange, after considering the nature of the properties. ..... conclusion of the appropriate authority is that the report of the registered valuer is not based on any evidence of the market value of the ..... second main road, gandhi nagar, adyar, were valued by a registered valuer, namely, prashanth engineers and the petitioner filed a statement in form .....
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