https://www.taxtmi.com/caselaws?id=18975 The court quashed the order rejecting the property valuation and applying a specific pricing formula, directing authorities to reconsider the valuation with the engineers' report within three months. The court found the undervaluation to be marginal, not for tax evasion, emphasizing the importance of reasons supporting orders and preventing misapplication of the law. The petitioner's objection regarding non-disclosure of the market value assessed by engineers was upheld, highlighting the need for proper consideration in valuation exercises. The writ petition was disposed of with instructions to provide a certified copy of the order to the petitioner's counsel. en-us Thu, 17 Nov 1994 00:00:00 +0530 Tue, 03 Nov 2009 11:40:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18975 The court quashed the order rejecting the property valuation and applying a specific pricing formula, directing authorities to reconsider the valuation with the engineers' report within three months. The court found the undervaluation to be marginal, not for tax evasion, emphasizing the importance of reasons supporting orders and preventing misapplication of the law. The petitioner's objection regarding non-disclosure of the market value assessed by engineers was upheld, highlighting the need for proper consideration in valuation exercises. The writ petition was disposed of with instructions to provide a certified copy of the order to the petitioner's counsel. Case-Laws Income Tax Thu, 17 Nov 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18975