https://www.taxtmi.com/caselaws?id=214332 The High Court dismissed the Revenue's appeals and upheld the ITAT's decisions. The property should be valued under Rule 1BB for years prior to April 1, 1989, and under the amended provisions for 1989-90. The penalty imposed under section 18(1)(c) was deemed unjustified due to the lack of evidence of concealment and the consistent valuation accepted by the Department over the years. en-us Tue, 08 Dec 2009 00:00:00 +0530 Tue, 26 Jun 2012 12:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214332 The High Court dismissed the Revenue's appeals and upheld the ITAT's decisions. The property should be valued under Rule 1BB for years prior to April 1, 1989, and under the amended provisions for 1989-90. The penalty imposed under section 18(1)(c) was deemed unjustified due to the lack of evidence of concealment and the consistent valuation accepted by the Department over the years. Case-Laws Wealth-tax Tue, 08 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214332