https://www.taxtmi.com/caselaws?id=67129 Wealth-tax authorities could not estimate investment in an under-construction property on a pro rata basis without a rational foundation. The estimate was treated as mere guesswork because construction expenditure could not be assumed to be evenly spread over the full construction period, and the actual investment up to a given date could not be ascertained without knowing the extent of work completed by that date. Since construction was completed only in the subsequent assessment year, the basis adopted for the relevant year was rejected and the assessee's version of investment was accepted. en-us Mon, 15 Jan 1990 00:00:00 +0530 Wed, 09 Mar 2011 12:08:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67129 Wealth-tax authorities could not estimate investment in an under-construction property on a pro rata basis without a rational foundation. The estimate was treated as mere guesswork because construction expenditure could not be assumed to be evenly spread over the full construction period, and the actual investment up to a given date could not be ascertained without knowing the extent of work completed by that date. Since construction was completed only in the subsequent assessment year, the basis adopted for the relevant year was rejected and the assessee's version of investment was accepted. Case-Laws Wealth-tax Mon, 15 Jan 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67129