https://www.taxtmi.com/caselaws?id=9394 The High Court of Allahabad ruled in favor of the assessee, stating that the penalty under section 18(1)(c) of the Wealth-tax Act, 1957, was not justified. The judgment emphasized the significance of following circulars issued by the Central Board of Direct Taxes and relying on approved valuer reports for asset valuation, addressing discrepancies arising from different valuation methods employed. en-us Thu, 31 Mar 2005 00:00:00 +0530 Mon, 22 Jun 2009 16:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9394 The High Court of Allahabad ruled in favor of the assessee, stating that the penalty under section 18(1)(c) of the Wealth-tax Act, 1957, was not justified. The judgment emphasized the significance of following circulars issued by the Central Board of Direct Taxes and relying on approved valuer reports for asset valuation, addressing discrepancies arising from different valuation methods employed. Case-Laws Wealth-tax Thu, 31 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9394