https://www.taxtmi.com/caselaws?id=62818 For wealth-tax valuation of a commercially used flat, valuation principles from acquisition or compensation matters could not be applied automatically. The relevant rule in the Wealth-tax Rules, 1957 provided a multiplier only for partly non-residential residential buildings, while the asset here was exclusively non-residential. In view of the property's commercial character, location in Connaught Place, and the surrounding economic setting, the adopted multiplier of 12.5 was found reasonable and there was no material to show that a lower value was justified. The Wealth-tax Officer's valuation was therefore upheld. en-us Tue, 21 Oct 1986 00:00:00 +0530 Fri, 21 Jan 2011 18:52:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62818 For wealth-tax valuation of a commercially used flat, valuation principles from acquisition or compensation matters could not be applied automatically. The relevant rule in the Wealth-tax Rules, 1957 provided a multiplier only for partly non-residential residential buildings, while the asset here was exclusively non-residential. In view of the property's commercial character, location in Connaught Place, and the surrounding economic setting, the adopted multiplier of 12.5 was found reasonable and there was no material to show that a lower value was justified. The Wealth-tax Officer's valuation was therefore upheld. Case-Laws Wealth-tax Tue, 21 Oct 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62818