https://www.taxtmi.com/caselaws?id=57408 The Tribunal allowed the appeals, confirming the application of rule 1BB for property valuation under the Wealth-tax Act. It emphasized the necessity of adhering to prescribed rules for valuation, reinstating the assessments to the WTO for valuation in accordance with rule 1BB. The decision underscored the importance of following procedural guidelines unless specific exceptions are met, rejecting the argument to disregard rule 1BB based on lower valuations than market rates. en-us Fri, 30 Nov 1984 00:00:00 +0530 Fri, 10 Dec 2010 10:21:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57408 The Tribunal allowed the appeals, confirming the application of rule 1BB for property valuation under the Wealth-tax Act. It emphasized the necessity of adhering to prescribed rules for valuation, reinstating the assessments to the WTO for valuation in accordance with rule 1BB. The decision underscored the importance of following procedural guidelines unless specific exceptions are met, rejecting the argument to disregard rule 1BB based on lower valuations than market rates. Case-Laws Wealth-tax Fri, 30 Nov 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57408