https://www.taxtmi.com/caselaws?id=63636 The Tribunal dismissed the Revenue's appeals, affirming the AAC's decision to accept the declared value of the property for assessment years 1968-69 to 1975-76. The Tribunal emphasized the mandatory and retrospective nature of Rule 1 BB in valuing properties and clarified that the assessee could benefit from the rule even if declaring a higher value. The Valuation Officer did not challenge the application of Rule 1 BB, and as the declared value exceeded the calculated value, the AAC's decision was upheld. en-us Wed, 11 Mar 1981 00:00:00 +0530 Tue, 01 Feb 2011 11:41:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63636 The Tribunal dismissed the Revenue's appeals, affirming the AAC's decision to accept the declared value of the property for assessment years 1968-69 to 1975-76. The Tribunal emphasized the mandatory and retrospective nature of Rule 1 BB in valuing properties and clarified that the assessee could benefit from the rule even if declaring a higher value. The Valuation Officer did not challenge the application of Rule 1 BB, and as the declared value exceeded the calculated value, the AAC's decision was upheld. Case-Laws Wealth-tax Wed, 11 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63636