https://www.taxtmi.com/caselaws?id=70956 The Tribunal upheld the initiation of proceedings under Section 147 and issuance of notice under Section 148 for undisclosed capital gains. The valuation of property as on 1-4-1981 was disputed, with rejection of registered valuers' reports. Family arrangements were deemed inadequate for valuation purposes. The Tribunal directed the use of the value determined by one valuer. The levy of interest under Section 234B was upheld as consequential. A separate judgment referred the matter to the Departmental Valuation Officer for fresh determination based on the value in the gift deed. en-us Thu, 21 Feb 2002 00:00:00 +0530 Wed, 20 Apr 2011 13:10:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70956 The Tribunal upheld the initiation of proceedings under Section 147 and issuance of notice under Section 148 for undisclosed capital gains. The valuation of property as on 1-4-1981 was disputed, with rejection of registered valuers' reports. Family arrangements were deemed inadequate for valuation purposes. The Tribunal directed the use of the value determined by one valuer. The levy of interest under Section 234B was upheld as consequential. A separate judgment referred the matter to the Departmental Valuation Officer for fresh determination based on the value in the gift deed. Case-Laws Income Tax Thu, 21 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70956