https://www.taxtmi.com/caselaws?id=58881 The Tribunal allowed the appeal challenging the Commissioner of Wealth-tax's order under section 25(2) of the Wealth-tax Act, 1957, regarding the valuation of a residential property for the assessment year 1973-74. The assessing officer's adoption of the District Valuation Officer's valuation was upheld, emphasizing the mandatory nature of following the DVO's valuation under section 16A. The Commissioner's revision based on alleged undervaluation was rejected as the assessing officer's decision was deemed appropriate and not prejudicial to revenue interests. en-us Thu, 25 May 1989 00:00:00 +0530 Wed, 22 Dec 2010 16:13:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58881 The Tribunal allowed the appeal challenging the Commissioner of Wealth-tax's order under section 25(2) of the Wealth-tax Act, 1957, regarding the valuation of a residential property for the assessment year 1973-74. The assessing officer's adoption of the District Valuation Officer's valuation was upheld, emphasizing the mandatory nature of following the DVO's valuation under section 16A. The Commissioner's revision based on alleged undervaluation was rejected as the assessing officer's decision was deemed appropriate and not prejudicial to revenue interests. Case-Laws Income Tax Thu, 25 May 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58881