https://www.taxtmi.com/caselaws?id=66036 The Tribunal dismissed the appeals, emphasizing the mandatory nature of section 16A of the Wealth Tax Act. It held that the valuation methodology adopted by the Wealth-tax Officer without a specific reference under section 16A was not in accordance with the law. The Tribunal ruled that valuation reports obtained for other co-owners could not be applied to the assessee's case, highlighting the importance of strict adherence to statutory provisions to avoid inconsistencies and harassment of assessees. en-us Thu, 12 Jan 1989 00:00:00 +0530 Mon, 21 Feb 2011 10:25:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66036 The Tribunal dismissed the appeals, emphasizing the mandatory nature of section 16A of the Wealth Tax Act. It held that the valuation methodology adopted by the Wealth-tax Officer without a specific reference under section 16A was not in accordance with the law. The Tribunal ruled that valuation reports obtained for other co-owners could not be applied to the assessee's case, highlighting the importance of strict adherence to statutory provisions to avoid inconsistencies and harassment of assessees. Case-Laws Wealth-tax Thu, 12 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66036