https://www.taxtmi.com/caselaws?id=103270 The High Court recalled the sale confirmation of a property in Bombay due to misrepresentation, emphasizing justice and equity. The valuation report by income-tax authorities, though crucial, was deemed misleading as it dated back to 1986 instead of 1993. The court affirmed its power to recall orders based on misrepresentation to ensure fair asset valuation during liquidation. Regarding the interest rate on the refunded amount, the court upheld a 12% rate over the appellant's proposed 18%, dismissing the appeal and ordering further action against the Assistant Official Liquidator's conduct. en-us Thu, 17 Aug 1995 00:00:00 +0530 Tue, 21 Feb 2012 18:53:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=103270 The High Court recalled the sale confirmation of a property in Bombay due to misrepresentation, emphasizing justice and equity. The valuation report by income-tax authorities, though crucial, was deemed misleading as it dated back to 1986 instead of 1993. The court affirmed its power to recall orders based on misrepresentation to ensure fair asset valuation during liquidation. Regarding the interest rate on the refunded amount, the court upheld a 12% rate over the appellant's proposed 18%, dismissing the appeal and ordering further action against the Assistant Official Liquidator's conduct. Case-Laws Companies Law Thu, 17 Aug 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=103270