https://www.taxtmi.com/caselaws?id=61120 The tribunal dismissed the Revenue's appeals and upheld the Appellate Assistant Commissioner's decision. The valuation of Pamposh Hotel was fixed at Rs. 5,27,000, rejecting the Departmental Valuer's higher valuation. The tribunal ruled that the Departmental Valuation Officer was not denied a hearing opportunity, and disallowed Rs. 50,000 as sundry creditors for the assessment year 1975-76. The tribunal emphasized the importance of accepting the valuation by the registered valuer and criticized the approach of the Wealth Tax Officer and the Departmental Valuer. en-us Tue, 01 Jul 1980 00:00:00 +0530 Tue, 11 Jan 2011 10:10:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61120 The tribunal dismissed the Revenue's appeals and upheld the Appellate Assistant Commissioner's decision. The valuation of Pamposh Hotel was fixed at Rs. 5,27,000, rejecting the Departmental Valuer's higher valuation. The tribunal ruled that the Departmental Valuation Officer was not denied a hearing opportunity, and disallowed Rs. 50,000 as sundry creditors for the assessment year 1975-76. The tribunal emphasized the importance of accepting the valuation by the registered valuer and criticized the approach of the Wealth Tax Officer and the Departmental Valuer. Case-Laws Wealth-tax Tue, 01 Jul 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61120