https://www.taxtmi.com/caselaws?id=151187 The Tribunal upheld the Commissioner's valuation of immovable property for assessment years 1996-97 to 1999-2000, based on the actual sale price in 1999. Rejecting the Revenue's argument for a higher valuation from the Departmental Valuation Officer's report, the Tribunal deemed the Commissioner's approach as reliable for wealth tax purposes. Emphasizing the importance of actual sale price as a key factor, the Tribunal dismissed both the Revenue's appeals and the assessee's cross-objections, affirming the Commissioner's order as reasonable and supported by historical purchase and sale prices. en-us Fri, 05 Mar 2010 00:00:00 +0530 Sat, 01 Jun 2013 13:20:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151187 The Tribunal upheld the Commissioner's valuation of immovable property for assessment years 1996-97 to 1999-2000, based on the actual sale price in 1999. Rejecting the Revenue's argument for a higher valuation from the Departmental Valuation Officer's report, the Tribunal deemed the Commissioner's approach as reliable for wealth tax purposes. Emphasizing the importance of actual sale price as a key factor, the Tribunal dismissed both the Revenue's appeals and the assessee's cross-objections, affirming the Commissioner's order as reasonable and supported by historical purchase and sale prices. Case-Laws Income Tax Fri, 05 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151187