High Court of Karnataka Allows Appeal in Income Tax Case — Valuation by District Registrar Without Reasons Held Perverse. Tribunal's finding that valuation by District Registrar/Appellate Authority is more effective and realistic without assigning any reasons is perverse, arbitrary, and unsustainable under Section 260-A of Income Tax Act, 1961....
The appeal was filed by the assessee, an individual engaged in transport business, under Section 260-A of the Income Tax Act, 1961, against the order of the Income Tax Appellate Tribunal (ITAT), Banga...
