https://www.taxtmi.com/caselaws?id=10469 The court held that the Wealth-tax Officer's failure to consider the Valuation Officer's report, which valued the property significantly higher, rendered the assessment order erroneous and prejudicial to revenue. The court emphasized that the Commissioner could consider such reports even if not part of the original assessment record. Consequently, the court ruled in favor of the Revenue, highlighting the importance of proper valuation considerations in wealth tax assessments. en-us Tue, 07 Sep 2004 00:00:00 +0530 Thu, 16 Jul 2009 11:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10469 The court held that the Wealth-tax Officer's failure to consider the Valuation Officer's report, which valued the property significantly higher, rendered the assessment order erroneous and prejudicial to revenue. The court emphasized that the Commissioner could consider such reports even if not part of the original assessment record. Consequently, the court ruled in favor of the Revenue, highlighting the importance of proper valuation considerations in wealth tax assessments. Case-Laws Wealth-tax Tue, 07 Sep 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10469