Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Completed unsold units held as a builder-developer's stock-in-trade may attract deemed annual-value taxation once occupancy or completion certificates have been issued. Notional rental income should be calculated using municipal rateable value, rather than an ad hoc percentage of the units' cost or investment. A unit for which purchaser advances have been received may be treated as sold and excluded from deemed rent where final possession has not been delivered, subject to verification of the claim and supporting material. The discussion notes remand for verification of the advance claim and recomputation of annual letting value on the municipal rateable-value basis.
Completed unsold units held as a builder-developer's stock-in-trade may attract deemed annual-value taxation once occupancy or completion certificates have been issued. Notional rental income should be calculated using municipal rateable value, rather than an ad hoc percentage of the units' cost or investment. A unit for which purchaser advances have been received may be treated as sold and excluded from deemed rent where final possession has not been delivered, subject to verification of the claim and supporting material. The discussion notes remand for verification of the advance claim and recomputation of annual letting value on the municipal rateable-value basis.
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