Market value consideration applied where rules require assets' valuation for wealth-tax assessments, clarifying assessment scope under valuation rules. The amendment inserts language into section 16A(1) clarifying that when the Act's valuation regime or the rules require the market value of an asset to be taken into account, that market value is to be used in the corresponding wealth-tax assessment, thereby linking section 16A(1) to assessments governed by the valuation rules.
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Provisions expressly mentioned in the judgment/order text.
Market value consideration applied where rules require assets' valuation for wealth-tax assessments, clarifying assessment scope under valuation rules.
The amendment inserts language into section 16A(1) clarifying that when the Act's valuation regime or the rules require the market value of an asset to be taken into account, that market value is to be used in the corresponding wealth-tax assessment, thereby linking section 16A(1) to assessments governed by the valuation rules.
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