https://www.taxtmi.com/caselaws?id=38741 The court upheld the Tribunal's decision, ruling in favor of the assessees. It found that the department failed to prove inaccuracies in the construction costs and highlighted the incomplete status of the building, impacting valuation. The court agreed that the penalty imposition was unjustified due to the lack of evidence against the assessees' construction account. Consequently, the petitions were dismissed, affirming the Tribunal's decision and rejecting the Commissioner of Wealth-tax's questions of law. en-us Wed, 11 Aug 1976 00:00:00 +0530 Thu, 08 Apr 2010 17:02:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38741 The court upheld the Tribunal's decision, ruling in favor of the assessees. It found that the department failed to prove inaccuracies in the construction costs and highlighted the incomplete status of the building, impacting valuation. The court agreed that the penalty imposition was unjustified due to the lack of evidence against the assessees' construction account. Consequently, the petitions were dismissed, affirming the Tribunal's decision and rejecting the Commissioner of Wealth-tax's questions of law. Case-Laws Wealth-tax Wed, 11 Aug 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38741