https://www.taxtmi.com/caselaws?id=29066 The court found in favor of the appellants, granting an injunction to restrain the valuation process of the partnership firm's assets for wealth-tax assessment during the pendency of the writ petitions. The court held that the stay of assessment proceedings extended the period of limitation, negating the urgency claimed by the respondents to proceed with the valuation. Ultimately, the court concluded that allowing the valuation would imply acceptance of the respondents' position on the application of the relevant tax provision. The injunction was granted, and the writ appeals were allowed without costs. en-us Mon, 23 Mar 1981 00:00:00 +0530 Wed, 10 Mar 2010 15:45:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29066 The court found in favor of the appellants, granting an injunction to restrain the valuation process of the partnership firm's assets for wealth-tax assessment during the pendency of the writ petitions. The court held that the stay of assessment proceedings extended the period of limitation, negating the urgency claimed by the respondents to proceed with the valuation. Ultimately, the court concluded that allowing the valuation would imply acceptance of the respondents' position on the application of the relevant tax provision. The injunction was granted, and the writ appeals were allowed without costs. Case-Laws Wealth-tax Mon, 23 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29066