https://www.taxtmi.com/caselaws?id=173673 The High Court upheld the Tribunal's decision directing the assessing officer to apply state-specific PWD rates for property valuation, dismissing the Department's appeal. The Court emphasized the importance of using only PWD rates for valuation within the state, rejecting the Department's argument that the direction was arbitrary. The assessing officer's determination of undisclosed income based on valuation variances was upheld, with a tax liability imposed on the assessee. The Court affirmed the Tribunal's decision, finding no error in the application of PWD rates for assessment purposes. en-us Tue, 21 Oct 2008 00:00:00 +0530 Sat, 19 Sep 2015 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173673 The High Court upheld the Tribunal's decision directing the assessing officer to apply state-specific PWD rates for property valuation, dismissing the Department's appeal. The Court emphasized the importance of using only PWD rates for valuation within the state, rejecting the Department's argument that the direction was arbitrary. The assessing officer's determination of undisclosed income based on valuation variances was upheld, with a tax liability imposed on the assessee. The Court affirmed the Tribunal's decision, finding no error in the application of PWD rates for assessment purposes. Case-Laws Income Tax Tue, 21 Oct 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173673