https://www.taxtmi.com/caselaws?id=208791 The High Court condoned the delay in filing the appeal due to prolonged pendency and heard the case on its merits. The dispute revolved around the valuation of immovable properties for wealth-tax purposes. The court upheld the values disclosed by the assessee, considering the properties as business assets under specific rules. It rejected the Department's argument for market value assessment and affirmed the valuation method based on applicable rules. The court dismissed the wealth-tax appeal, emphasizing adherence to the prescribed rules for valuing immovable properties. en-us Tue, 21 Sep 2010 00:00:00 +0530 Fri, 07 Jun 2013 18:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208791 The High Court condoned the delay in filing the appeal due to prolonged pendency and heard the case on its merits. The dispute revolved around the valuation of immovable properties for wealth-tax purposes. The court upheld the values disclosed by the assessee, considering the properties as business assets under specific rules. It rejected the Department's argument for market value assessment and affirmed the valuation method based on applicable rules. The court dismissed the wealth-tax appeal, emphasizing adherence to the prescribed rules for valuing immovable properties. Case-Laws Wealth-tax Tue, 21 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208791