https://www.taxtmi.com/caselaws?id=62756 The Tribunal held that the provisions of the Delhi Rent Control Act were not relevant for determining the fair market value of the self-occupied portion of the property. The matter was remanded to the Commissioner (Appeals) to value the property according to the DVO's method. The Tribunal also directed reconsideration of the deduction for repairs and maintenance and upheld the deletion of the addition on account of reversionary value of the land. Regarding exemption under section 5(1)(iv) of the Wealth-tax Act, the Tribunal ruled that the exemption should be allowed only once in the firm's hands and directed the Commissioner (Appeals) to determine the net wealth accordingly. en-us Fri, 27 Sep 1985 00:00:00 +0530 Fri, 21 Jan 2011 15:47:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62756 The Tribunal held that the provisions of the Delhi Rent Control Act were not relevant for determining the fair market value of the self-occupied portion of the property. The matter was remanded to the Commissioner (Appeals) to value the property according to the DVO's method. The Tribunal also directed reconsideration of the deduction for repairs and maintenance and upheld the deletion of the addition on account of reversionary value of the land. Regarding exemption under section 5(1)(iv) of the Wealth-tax Act, the Tribunal ruled that the exemption should be allowed only once in the firm's hands and directed the Commissioner (Appeals) to determine the net wealth accordingly. Case-Laws Wealth-tax Fri, 27 Sep 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62756