https://www.taxtmi.com/caselaws?id=8523 The High Court upheld the Tribunal's decision to consider the goodwill value as "nil" for assessment purposes based on the unanimous report of valuers. The Court emphasized its limited jurisdiction to address legal issues not raised before the lower authorities. The decision affirmed the statutory provisions under the Wealth-tax Act, 1957, regarding valuation disputes and the binding nature of valuers' determinations as per the Act. The Court declined to entertain challenges to the valuation methodology but affirmed the Tribunal's authority to rely on the valuers' report, ruling in favor of the respondent. en-us Thu, 01 Apr 1971 00:00:00 +0530 Wed, 29 Apr 2009 17:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8523 The High Court upheld the Tribunal's decision to consider the goodwill value as "nil" for assessment purposes based on the unanimous report of valuers. The Court emphasized its limited jurisdiction to address legal issues not raised before the lower authorities. The decision affirmed the statutory provisions under the Wealth-tax Act, 1957, regarding valuation disputes and the binding nature of valuers' determinations as per the Act. The Court declined to entertain challenges to the valuation methodology but affirmed the Tribunal's authority to rely on the valuers' report, ruling in favor of the respondent. Case-Laws Wealth-tax Thu, 01 Apr 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8523