https://www.taxtmi.com/caselaws?id=22815 The court ruled in favor of the assessee, emphasizing that the marginal variance in valuations between the government valuer and the assessee's valuer did not justify reopening the assessment under section 17(1)(b) of the Wealth-tax Act. The judgment highlighted the subjective nature of valuation, the need for substantial discrepancies to warrant reassessment, and the principle of finality in assessment proceedings unless significant errors necessitate reassessment. en-us Fri, 04 Jan 1991 00:00:00 +0530 Mon, 14 Dec 2009 12:55:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22815 The court ruled in favor of the assessee, emphasizing that the marginal variance in valuations between the government valuer and the assessee's valuer did not justify reopening the assessment under section 17(1)(b) of the Wealth-tax Act. The judgment highlighted the subjective nature of valuation, the need for substantial discrepancies to warrant reassessment, and the principle of finality in assessment proceedings unless significant errors necessitate reassessment. Case-Laws Wealth-tax Fri, 04 Jan 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22815