§ Mr. ROYDSasked the Chancellor of the Exchequer, whether, for the purpose of assessing Increment Value Duty on the occasion of sales of land, instructions have been given to the official valuers to make a new valuation of the property included 396W in each sale; and, if so, under what authority such instructions have been given?
§ Mr. HOBHOUSEI beg to refer the hon. Member to the provisions of Section 25 (4) (a) of the Finance (1909–10) Act, 1910, from which he will see what valuations have by law to be made on an occasion of sale for the purpose of estimating the deductions authorised under Section 2 (2) of the Act.