https://www.taxtmi.com/caselaws?id=63147 The ITAT dismissed the Revenue's appeals and partially allowed the assessee's cross objection for the assessment year 1977-78. The judgment emphasized the acceptance of valuations by the AAC and the ITAT, highlighting the application of section 7(4) of the Wealth Tax Act and the importance of fair valuation practices in wealth tax assessments. The decision upheld the assessee's position regarding the valuation of the Bombay flat, considering the benefits under section 7(4) for self-occupation and rejecting the Revenue's challenge to the valuation methodology. en-us Mon, 24 Nov 1986 00:00:00 +0530 Fri, 28 Jan 2011 10:49:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63147 The ITAT dismissed the Revenue's appeals and partially allowed the assessee's cross objection for the assessment year 1977-78. The judgment emphasized the acceptance of valuations by the AAC and the ITAT, highlighting the application of section 7(4) of the Wealth Tax Act and the importance of fair valuation practices in wealth tax assessments. The decision upheld the assessee's position regarding the valuation of the Bombay flat, considering the benefits under section 7(4) for self-occupation and rejecting the Revenue's challenge to the valuation methodology. Case-Laws Wealth-tax Mon, 24 Nov 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63147