https://www.taxtmi.com/caselaws?id=64676 The ITAT upheld the AAC's decision to value the flat at a lower amount under r. 1-BB compared to the WTO's valuation, citing a Special Bench decision. Additionally, the ITAT allowed the deduction under s. 5(i)(iv) for the assessee, interpreting 'assets' broadly to include the flat in question. The Revenue's objections were rejected, and the ITAT dismissed the Departmental appeal, affirming both the valuation under r. 1-BB and the entitlement to the deduction under s. 5(i)(iv) for the assessee. en-us Thu, 05 Dec 1985 00:00:00 +0530 Wed, 09 Feb 2011 12:31:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64676 The ITAT upheld the AAC's decision to value the flat at a lower amount under r. 1-BB compared to the WTO's valuation, citing a Special Bench decision. Additionally, the ITAT allowed the deduction under s. 5(i)(iv) for the assessee, interpreting 'assets' broadly to include the flat in question. The Revenue's objections were rejected, and the ITAT dismissed the Departmental appeal, affirming both the valuation under r. 1-BB and the entitlement to the deduction under s. 5(i)(iv) for the assessee. Case-Laws Wealth-tax Thu, 05 Dec 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64676