https://www.taxtmi.com/caselaws?id=65088 The case involved issues related to the exclusion of sale proceeds of agricultural land from the wealth of the assessee HUF, valuation of property for the assessment year 1978-79, deduction of liabilities related to a discontinued business, and the admissibility of additional grounds raised by the assessee. The ITAT upheld the exclusion of sale proceeds from the HUF's wealth, directed the valuation of property to be referred to the Valuation Officer, allowed liabilities against the aggregate value of assets, and remanded the matter to consider the admissibility of additional grounds. The Third Member concluded that Rule 1BB was mandatory for valuing residential properties, supporting the AAC's direction on valuation. en-us Mon, 24 Apr 1989 00:00:00 +0530 Sat, 12 Feb 2011 12:42:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65088 The case involved issues related to the exclusion of sale proceeds of agricultural land from the wealth of the assessee HUF, valuation of property for the assessment year 1978-79, deduction of liabilities related to a discontinued business, and the admissibility of additional grounds raised by the assessee. The ITAT upheld the exclusion of sale proceeds from the HUF's wealth, directed the valuation of property to be referred to the Valuation Officer, allowed liabilities against the aggregate value of assets, and remanded the matter to consider the admissibility of additional grounds. The Third Member concluded that Rule 1BB was mandatory for valuing residential properties, supporting the AAC's direction on valuation. Case-Laws Wealth-tax Mon, 24 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65088