https://www.taxtmi.com/caselaws?id=63536 The Tribunal set aside the Appellate Asstt. Commissioner's orders and directed a reassessment based on determining the market value of gold independently, without reliance on rule 2B(2) of the Wealth-tax Rules. The judgment clarified the correct interpretation of the rule, emphasizing the need for an independent determination of market value and rejecting automatic revaluation based on gross profit margins. It underscored the importance of establishing a valid basis for revaluation and directed a reassessment process adhering to established legal principles. en-us Mon, 04 Jan 1988 00:00:00 +0530 Mon, 31 Jan 2011 15:46:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63536 The Tribunal set aside the Appellate Asstt. Commissioner's orders and directed a reassessment based on determining the market value of gold independently, without reliance on rule 2B(2) of the Wealth-tax Rules. The judgment clarified the correct interpretation of the rule, emphasizing the need for an independent determination of market value and rejecting automatic revaluation based on gross profit margins. It underscored the importance of establishing a valid basis for revaluation and directed a reassessment process adhering to established legal principles. Case-Laws Wealth-tax Mon, 04 Jan 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63536