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2006 (7) TMI 117 - MADHYA PRADESH HIGH COURTTotal net wealth of the assessee was arrived at Rs. 65,13,499 by revenue as against the returned wealth of Rs. 32,67,881 – assessee adopted method of rent capitalization & written down value - Department didn’t accept the valuation of assessee & made valuation on basis of market value – assessee had employed a different method of valuation, it was not a case of concealment as the assets had been fully disclosed - Tribunal have not committed any error for setting aside the penalty u/s 18(1)(c)
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