2001 (2) TMI 37 - HC - Income Tax

Summary

The High Court of Madras held that the Revenue could revise the valuation of a property owned by the assessee, a coffee curing works, even though the Commissioner had approved a lower valuation for another property. The Commissioner's approval was specific to the properties under appeal. The Court ruled in favor of the Revenue, allowing the revision of the valuation. The case was remanded to the Tribunal to consider other grounds raised by the assessee in the appeal.