https://www.taxtmi.com/caselaws?id=17762 The High Court emphasized the importance of following statutory procedures and ensuring valuations are based on accepted principles. The court clarified that valuation issues can involve legal errors if not conducted properly, highlighting the need for adherence to statutory provisions and established principles. The decision underscored the distinction between factual and legal errors in valuation matters, indicating that improper valuations based on irrelevant factors or guesswork could constitute legal errors. Specific questions were directed for reference to the High Court to seek legal clarity on the correctness of the valuation process and adherence to procedural requirements under the Wealth-tax Act. en-us Thu, 19 Oct 1995 00:00:00 +0530 Thu, 24 Sep 2009 16:18:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17762 The High Court emphasized the importance of following statutory procedures and ensuring valuations are based on accepted principles. The court clarified that valuation issues can involve legal errors if not conducted properly, highlighting the need for adherence to statutory provisions and established principles. The decision underscored the distinction between factual and legal errors in valuation matters, indicating that improper valuations based on irrelevant factors or guesswork could constitute legal errors. Specific questions were directed for reference to the High Court to seek legal clarity on the correctness of the valuation process and adherence to procedural requirements under the Wealth-tax Act. Case-Laws Wealth-tax Thu, 19 Oct 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17762