In Eskays Construction Pvt. Ltd. Vs. Soma Papers & Industries Ltd., the Hon'ble Bombay High Court has held that DRAT has no power or jurisdiction to reduce the deposit amount to less than 25% and unless the debt due is secured, the borrower cannot be allowed the luxury of litigation.
The division Bench of the Delhi High Court in Pr.Commissioner of Wealth Tax vs. Raghu Hari Dalmia held that a valuation report made by a registered valuer once adopted shall be in effect for four assessment years unless an event has occurred whereby the value is increased or decreased. The High Court made it clear that the event of “search” under Section 132 of the Income Tax Act, 1961 cannot compel the assessee to undertake a fresh valuation.
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