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of <h1>Public Accounts Committee Report Exposes Inconsistent Valuations in Tax Assessments; Calls for Documented Justifications in Future Evaluations.</h1> The Public Accounts Committee's 211th Report highlights concerns about under-assessment due to inconsistent valuations in tax assessments. Two valuation reports for the same property, prepared by the same valuer on the same day, showed differing fair rents of Rs. 1850 and Rs. 1550 per month. The lower rent was used for Estate Duty, leading to an under-valuation of Rs. 48,900, while the higher rent was used for wealth-tax. The Committee questioned the rationale behind these discrepancies, noting the absence of recorded reasons by the assessing officer. Future assessments must include documented reasoning to justify conclusions.
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