https://www.taxtmi.com/caselaws?id=36248 The High Court ruled against the assessee, stating that the Tribunal's flat discount of 60% was unjustified. The Court directed the Tribunal to reassess the cases based on a detailed examination of each debt's circumstances to determine the market value of the assets in suits filed account. The judgment emphasized the importance of proper valuation methods in assessing wealth tax liabilities and instructed the Tribunal to adopt a case-specific approach rather than applying a blanket discount percentage. en-us Wed, 29 Oct 1980 00:00:00 +0530 Sat, 20 Mar 2010 12:27:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36248 The High Court ruled against the assessee, stating that the Tribunal's flat discount of 60% was unjustified. The Court directed the Tribunal to reassess the cases based on a detailed examination of each debt's circumstances to determine the market value of the assets in suits filed account. The judgment emphasized the importance of proper valuation methods in assessing wealth tax liabilities and instructed the Tribunal to adopt a case-specific approach rather than applying a blanket discount percentage. Case-Laws Wealth-tax Wed, 29 Oct 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36248