https://www.taxtmi.com/caselaws?id=62325 Comparable sale instances, not unsupported annual estimation, must form the basis of urban land valuation for wealth-tax purposes, and open space or internal roads with no saleable market value are excluded for the year they are set apart for sale. Borrowings used to discharge a bank mortgage and release title to the land have a real connection with the asset and fall within debts incurred in relation to that asset, making them deductible in net wealth computation subject to verification of the amount on each valuation date. en-us Fri, 25 Aug 2006 00:00:00 +0530 Wed, 19 Jan 2011 13:01:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62325 Comparable sale instances, not unsupported annual estimation, must form the basis of urban land valuation for wealth-tax purposes, and open space or internal roads with no saleable market value are excluded for the year they are set apart for sale. Borrowings used to discharge a bank mortgage and release title to the land have a real connection with the asset and fall within debts incurred in relation to that asset, making them deductible in net wealth computation subject to verification of the amount on each valuation date. Case-Laws Wealth-tax Fri, 25 Aug 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62325