No penalty can be levied in respect of addition made on account of adoption of different methods of valuation by assessee and Department:

No penalty can be levied u/s 18(1)(c) of the Wealth-tax Act on addition made in respect of difference in valuation of properties on account of adoption of different methods of valuation by assessee and Department. Further, in case the Penalty Order does not clearly spell out as to whether the penalty is levied for concealment of wealth or for furnishing inaccurate particulars of wealth, penalty cannot be levied.

[RAMANBHAI B. PATEL HUF - TAX APPEAL No.145 with 147 of 2000 - GHC]