1984 (2) TMI 77 - HC - Income Tax

Summary

The High Court of Karnataka allowed the revision petitions and set aside the orders of all authorities below. The assessing officer was directed to redo the assessments based on the value estimated by the assessee for each of the years concerned. The assessee was awarded costs. The decision was supported by relevant legal provisions and a previous court decision. (Case citation: 1984 (2) TMI 77 - KARNATAKA High Court)