https://www.taxtmi.com/caselaws?id=8674 The court upheld the valuation method adopted by the Tribunal for determining the value of the mica mine for wealth-tax purposes. It found that the method of deducting a proportionate value each year was reasonable and aligned with accounting principles. The court emphasized that the value in the balance-sheet is not conclusive and adjustments can be made as necessary. The decision favored the respondent, directing the department to cover the costs of the reference, including the advocate's fee. en-us Wed, 21 Jun 1972 00:00:00 +0530 Wed, 20 May 2009 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8674 The court upheld the valuation method adopted by the Tribunal for determining the value of the mica mine for wealth-tax purposes. It found that the method of deducting a proportionate value each year was reasonable and aligned with accounting principles. The court emphasized that the value in the balance-sheet is not conclusive and adjustments can be made as necessary. The decision favored the respondent, directing the department to cover the costs of the reference, including the advocate's fee. Case-Laws Wealth-tax Wed, 21 Jun 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8674