https://www.taxtmi.com/caselaws?id=62485 Residential house property falling within section 36(3) of the Estate Duty Act must be valued on the special wealth-tax footing, because that provision imports the Wealth-tax Act and the relevant rules for valuation on the valuation date or date of death. Where the property was exclusively used for residential purposes, section 7(4) of the Wealth-tax Act applies and the frozen or pegged-down value principle governs. On that basis, the ordinary rental method under Rule 1BB was not to be applied, and the valuation had to follow the wealth-tax basis accepted for the property. en-us Fri, 21 Dec 1990 00:00:00 +0530 Thu, 20 Jan 2011 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62485 Residential house property falling within section 36(3) of the Estate Duty Act must be valued on the special wealth-tax footing, because that provision imports the Wealth-tax Act and the relevant rules for valuation on the valuation date or date of death. Where the property was exclusively used for residential purposes, section 7(4) of the Wealth-tax Act applies and the frozen or pegged-down value principle governs. On that basis, the ordinary rental method under Rule 1BB was not to be applied, and the valuation had to follow the wealth-tax basis accepted for the property. Case-Laws Income Tax Fri, 21 Dec 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62485