Prospective valuation amendment limits reassessment: unamended fair market value reference could not justify reopening based on a registered valuer's ...
The High Court disposed of the writ petition, modifying the requirement to deposit only 10% of the remaining disputed tax amount for the impugned order to remain stayed. This decision was based on a Central revenue notification dated 16th August, 2024, reducing the deposit to 10%, and a corresponding State revenue notification dated 29th October, 2024. The petitioner's submission regarding the reduced deposit requirement of 10% for the first appellate order to remain stayed was accepted by the High Court.
The High Court disposed of the writ petition, modifying the requirement to deposit only 10% of the remaining disputed tax amount for the impugned order to remain stayed. This decision was based on a Central revenue notification dated 16th August, 2024, reducing the deposit to 10%, and a corresponding State revenue notification dated 29th October, 2024. The petitioner's submission regarding the reduced deposit requirement of 10% for the first appellate order to remain stayed was accepted by the High Court.
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