https://www.taxtmi.com/caselaws?id=66345 The Tribunal allowed the appeals filed by the assessee, setting aside the Chief Wealth Tax's order and directing a revaluation by the Valuation Cell. The Tribunal upheld the use of the rent capitalization method for valuation, finding no error in the assessment based on this method. It concluded that the direction to refer the property's valuation to the Valuation Cell was unwarranted as the difference in valuation was due to the actual rent used for capitalization, not a change in the valuation method. The Commissioner's decision was deemed unjustified, and the appeals were allowed. en-us Wed, 28 Dec 1988 00:00:00 +0530 Wed, 23 Feb 2011 16:52:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66345 The Tribunal allowed the appeals filed by the assessee, setting aside the Chief Wealth Tax's order and directing a revaluation by the Valuation Cell. The Tribunal upheld the use of the rent capitalization method for valuation, finding no error in the assessment based on this method. It concluded that the direction to refer the property's valuation to the Valuation Cell was unwarranted as the difference in valuation was due to the actual rent used for capitalization, not a change in the valuation method. The Commissioner's decision was deemed unjustified, and the appeals were allowed. Case-Laws Wealth-tax Wed, 28 Dec 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66345