Insofar the present case is concerned though the actual sale might have taken place after the valuation date, substantial amount of money was paid prior to the valuation date as an advance consideration. In such circumstances, the view taken by the Tribunal cannot be faulted. A conjoint reading of s. 7 and s. 2(q) of the Act would indicate that the requirement of the law is that the value of any asset for the purpose of this Act shall be its value as on the valuation date. For determining the value of the asset as on the valuation date there cannot be any embargo on the WTO not to take into consideration valuation of identical assets immediately preceding or succeeding the valuation date or that he has to arrive at the valuation of the asset only as per the valuation report. The decision of the Supreme Court in the case of S.N. Wadiyar (cited supra) is not on the proposition that valuation of an identical asset immediately succeeding the valuation date cannot be taken into consideration for determining the valuation of the asset as on the valuation date. In para 22 of the said judgment, it is stated that valuation of the asset has to be on the valuation date which has reference to the last day of the previous year. In other words, it is 31st March and immediately preceding the assessment year. The valuation of the asset arrived at as on that date is the valuation on which wealth-tax is assessable. Clarifying the matter further Supreme Court held that the WTO has to form an opinion about the estimated price if the assets were to be sold in the assumed market and the estimated price would be the one which an assumed willing purchaser would pay for it.