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of <h1>Discrepancy in Property Valuation Found; Board Requires Valuation Officer Review for Declared Values Below Previous Year.</h1> The Board identified a discrepancy in property valuation for wealth-tax purposes between two consecutive assessment years. For 1967-68, the property's value was assessed at Rs. 2,32,000 based on the purchase price, while for 1968-69, it was assessed at Rs. 1,51,000 based on an approved valuer's report, without consulting the Valuation Cell. The Board instructs that if an asset's declared value in any assessment year is less than its previous year's value or cost price, the matter must be referred to the Valuation Officer for verification and appropriate action.
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