Supreme Court · 2014 INSC 978 · Decided 30 June 2014
Amrit Banaspati CO. LTD. v. Commissioner of Wealth-Tax, Ghaziabad
- Court
- Supreme Court of India
- Citation
- 2014 INSC 978 · [2014] 8 S.C.R. 46
- Case number
- CIVIL APPEAL No. 938/2003
- Decided
- 30 June 2014
- Bench
- S. J. MUKHOPADHAYA, KURIAN JOSEPH (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
Wealth Tax Act, 1957 - Schedule Ill, Rules 8, 20, 3 to 7 C - Valuation of residential flat - Wide variation between alleged market value as determined by the Departmental Valuation Officer ulr 20 and the value as disclosed by the assessee in the return filed on self assessment as per Assessment Officer holding that due to wide variation, not D practicable to value property as per Rule 3 to 7, hence r. B(a) attracted - Said order upheld by Commissioner of Wealth :r:ax, tribunal as also High Court - On appeal, held: If in the opinion of AO, the value. determined by tax payer on
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