https://www.taxtmi.com/caselaws?id=17630 The High Court of Kerala found the freezing of the property value at Rs. 1,75,000 to be unnecessary and restrictive in a case concerning the valuation of property for wealth tax assessment under the Wealth-tax Act, 1957. The Court emphasized the importance of allowing the Wealth-tax Officer the freedom to determine the valuation in accordance with the law and relevant provisions, specifically highlighting the mandatory nature of valuation method under rule 1BB of the Wealth-tax Rules. The Court modified the Tribunal's order to remove the restriction on valuation, directing the case to be forwarded to the Income-tax Appellate Tribunal, Cochin Bench. en-us Wed, 19 Jun 1996 00:00:00 +0530 Wed, 23 Sep 2009 17:35:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17630 The High Court of Kerala found the freezing of the property value at Rs. 1,75,000 to be unnecessary and restrictive in a case concerning the valuation of property for wealth tax assessment under the Wealth-tax Act, 1957. The Court emphasized the importance of allowing the Wealth-tax Officer the freedom to determine the valuation in accordance with the law and relevant provisions, specifically highlighting the mandatory nature of valuation method under rule 1BB of the Wealth-tax Rules. The Court modified the Tribunal's order to remove the restriction on valuation, directing the case to be forwarded to the Income-tax Appellate Tribunal, Cochin Bench. Case-Laws Wealth-tax Wed, 19 Jun 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17630