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DILIP N. SHROFF vs. JOINT COMMNR. OF INCOME TAX, MUMBAI &ANR

The appeal is allowed

C.A. No.-002746-002746 - 2007Supreme Court18 May 2007

For Respondent: Joint Commissioner of Income Tax, Mumbai & Anr

56. It is one thing to say that the valuation based on a newspaper is totally unacceptable, but it is another thing to say that by reason of the return, the assessee furnished inaccurate particulars. The question which was inter alia required to be posed was whether the method adopted by the registered valuer was wholly unknown