https://www.taxtmi.com/caselaws?id=18224 The High Court ruled in favor of the assessee, emphasizing the tax authorities' duty to verify asset values before imposing penalties under section 18(1)(c) of the Wealth-tax Act, 1957. The court found that the Tribunal prematurely concluded on the incorrectness of asset valuation, highlighting the need for proper assessment procedures to ensure fairness and statutory compliance in wealth-tax matters. en-us Thu, 27 Jun 1996 00:00:00 +0530 Tue, 29 Sep 2009 15:42:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18224 The High Court ruled in favor of the assessee, emphasizing the tax authorities' duty to verify asset values before imposing penalties under section 18(1)(c) of the Wealth-tax Act, 1957. The court found that the Tribunal prematurely concluded on the incorrectness of asset valuation, highlighting the need for proper assessment procedures to ensure fairness and statutory compliance in wealth-tax matters. Case-Laws Wealth-tax Thu, 27 Jun 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18224