https://www.taxtmi.com/caselaws?id=35752 The court held that the Commissioner's denial of relief under section 18(2A) of the Wealth-tax Act due to the petitioner's property undervaluation was incorrect. Emphasizing the requirement of full and honest disclosure, the court ruled that even if there are valuation discrepancies, as long as there is good faith disclosure of assets and liabilities, relief should not be denied solely on underestimation grounds. The orders were quashed, and the matters were remanded for proper consideration, highlighting the significance of full and truthful disclosure for invoking relief under the Act. en-us Thu, 09 Jul 1981 00:00:00 +0530 Tue, 16 Mar 2010 14:06:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35752 The court held that the Commissioner's denial of relief under section 18(2A) of the Wealth-tax Act due to the petitioner's property undervaluation was incorrect. Emphasizing the requirement of full and honest disclosure, the court ruled that even if there are valuation discrepancies, as long as there is good faith disclosure of assets and liabilities, relief should not be denied solely on underestimation grounds. The orders were quashed, and the matters were remanded for proper consideration, highlighting the significance of full and truthful disclosure for invoking relief under the Act. Case-Laws Wealth-tax Thu, 09 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35752