https://www.taxtmi.com/caselaws?id=67963 For wealth-tax valuation, the plot was treated as commercial land, and a reduction in the adopted value was claimed on the basis of a reported fall in land prices and the property's location near border areas. The revenue relied on higher auction rates and rejected the claim, but the Tribunal accepted that some decline in value had been shown. As the valuation question was one of estimate, the Tribunal found a 20% reduction reasonable and granted partial relief by scaling down the plot's value for the year under consideration. en-us Tue, 04 Nov 1986 00:00:00 +0530 Tue, 15 Mar 2011 18:48:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67963 For wealth-tax valuation, the plot was treated as commercial land, and a reduction in the adopted value was claimed on the basis of a reported fall in land prices and the property's location near border areas. The revenue relied on higher auction rates and rejected the claim, but the Tribunal accepted that some decline in value had been shown. As the valuation question was one of estimate, the Tribunal found a 20% reduction reasonable and granted partial relief by scaling down the plot's value for the year under consideration. Case-Laws Wealth-tax Tue, 04 Nov 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67963