https://www.taxtmi.com/caselaws?id=25509 The High Court of BOMBAY upheld the valuation of immovable properties at Rs. 8,00,000 for the assessment years 1957-58 to 1959-60 under the Wealth-tax Act. The Court determined that the valuation could not be less than Rs. 8,00,000, as initially assessed by the assessee, despite a valuation report suggesting a higher amount. The decision was based on section 24(6)(a) of the Act, allowing for valuers' reference if there are objections to property valuation. No costs were awarded to either party. en-us Tue, 31 Mar 1987 00:00:00 +0530 Fri, 29 Jan 2010 11:34:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25509 The High Court of BOMBAY upheld the valuation of immovable properties at Rs. 8,00,000 for the assessment years 1957-58 to 1959-60 under the Wealth-tax Act. The Court determined that the valuation could not be less than Rs. 8,00,000, as initially assessed by the assessee, despite a valuation report suggesting a higher amount. The decision was based on section 24(6)(a) of the Act, allowing for valuers' reference if there are objections to property valuation. No costs were awarded to either party. Case-Laws Income Tax Tue, 31 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25509