Dismissing the appeals of the revenue the Court held that , it was evident that a conjoint reading of rules 18 and 19 of the Wealth-tax Rules, 1957 , required valuation of all assets and the valuation operated not on a year-to-year basis but for a four year cycle. The only exception was that where jewellery included gold or silver or any other alloy, the valuation of gold had to be undertaken annually. Only because the search was an event which per se could not have compelled the assessees to go in for fresh valuation, unless there was a compulsion in law to do so. The assessees acted within their rights in relying upon the prevailing valuation, which had ended on March 31, 2012.