https://www.taxtmi.com/caselaws?id=19724 The Karnataka High Court ruled in favor of the writ petitioner, finding the reopening of wealth-tax assessments for the years 1982-83 to 1991-92 based on the Cost Inflation Index to be flawed. The court held that applying the index retroactively was arbitrary and unfair, emphasizing the complexity of property valuation beyond simplistic index applications. The decision granted the petitioner's prayers for rules absolute and a permanent injunction, highlighting the importance of a reasoned approach in wealth-tax assessments. en-us Fri, 22 Apr 1994 00:00:00 +0530 Mon, 09 Nov 2009 12:33:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19724 The Karnataka High Court ruled in favor of the writ petitioner, finding the reopening of wealth-tax assessments for the years 1982-83 to 1991-92 based on the Cost Inflation Index to be flawed. The court held that applying the index retroactively was arbitrary and unfair, emphasizing the complexity of property valuation beyond simplistic index applications. The decision granted the petitioner's prayers for rules absolute and a permanent injunction, highlighting the importance of a reasoned approach in wealth-tax assessments. Case-Laws Wealth-tax Fri, 22 Apr 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19724