https://www.taxtmi.com/caselaws?id=59308 The Tribunal canceled the order under s. 25(2) of the WT Act for the assessment years 1981 and 1982-83, which valued properties based on gross municipal valuation. It held that the assessing authority's valuation method was not erroneous and emphasized that s. 25(2) does not allow setting aside orders based on mere change of opinion. The Tribunal also rejected the higher valuation of unquoted shares based on a specific court decision, instead favoring the original valuation by the WTO supported by a Bombay High Court judgment. As a result, the appeals by the assessee were allowed, and the CWT's orders were canceled. en-us Tue, 23 May 1989 00:00:00 +0530 Mon, 27 Dec 2010 17:21:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59308 The Tribunal canceled the order under s. 25(2) of the WT Act for the assessment years 1981 and 1982-83, which valued properties based on gross municipal valuation. It held that the assessing authority's valuation method was not erroneous and emphasized that s. 25(2) does not allow setting aside orders based on mere change of opinion. The Tribunal also rejected the higher valuation of unquoted shares based on a specific court decision, instead favoring the original valuation by the WTO supported by a Bombay High Court judgment. As a result, the appeals by the assessee were allowed, and the CWT's orders were canceled. Case-Laws Income Tax Tue, 23 May 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59308