https://www.taxtmi.com/caselaws?id=62685 For wealth-tax valuation, the accepted value of immovable property for an earlier year was treated as the proper basis for the succeeding two years, reflecting the principle that a previously accepted valuation should ordinarily continue unless material change is shown. The Tribunal also adopted a modest upward revision for the remaining two years rather than the higher departmental valuations, using the earlier accepted figure as the benchmark. The result was partial relief to the assessee, with the property value fixed at a lower uniform level than that proposed by the Wealth-tax Officer. en-us Sat, 15 Dec 1979 00:00:00 +0530 Fri, 21 Jan 2011 11:22:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62685 For wealth-tax valuation, the accepted value of immovable property for an earlier year was treated as the proper basis for the succeeding two years, reflecting the principle that a previously accepted valuation should ordinarily continue unless material change is shown. The Tribunal also adopted a modest upward revision for the remaining two years rather than the higher departmental valuations, using the earlier accepted figure as the benchmark. The result was partial relief to the assessee, with the property value fixed at a lower uniform level than that proposed by the Wealth-tax Officer. Case-Laws Wealth-tax Sat, 15 Dec 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62685