https://www.taxtmi.com/caselaws?id=179699 The penalties imposed under section 18(1)(c) of the Wealth Tax Act for Assessment Years 1995-96 and 1996-97 were deleted as the assessee's valuation method was deemed bona fide by the ITAT. However, for Assessment Years 1997-98, 1999-00, 2000-01, and 2001-02, penalties were upheld for discrepancies in valuation methods. The appeals for the earlier years were allowed, resulting in the deletion of penalties, while for the later years, penalties were partially upheld. en-us Fri, 23 Aug 2013 00:00:00 +0530 Tue, 08 Mar 2016 13:11:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179699 The penalties imposed under section 18(1)(c) of the Wealth Tax Act for Assessment Years 1995-96 and 1996-97 were deleted as the assessee's valuation method was deemed bona fide by the ITAT. However, for Assessment Years 1997-98, 1999-00, 2000-01, and 2001-02, penalties were upheld for discrepancies in valuation methods. The appeals for the earlier years were allowed, resulting in the deletion of penalties, while for the later years, penalties were partially upheld. Case-Laws Wealth-tax Fri, 23 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179699