https://www.taxtmi.com/caselaws?id=67969 Property valued under the wealth-tax regime may be adopted for estate duty purposes where the governing valuation provision is applied retrospectively to reflect legislative intent. A self-occupied property was therefore to be taken at the wealth-tax value. For a wholly let-out commercial property, valuation had to follow the rental capitalisation method, allowing the recognised statutory deductions for municipal taxes, repairs and collection charges, and capitalising the net annual letting value. A separate addition for speculative future construction potential was not justified where the property was already let out and not in the accountable person's possession. The estate duty valuation was to be recomputed accordingly. en-us Fri, 10 Apr 1987 00:00:00 +0530 Tue, 15 Mar 2011 18:58:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67969 Property valued under the wealth-tax regime may be adopted for estate duty purposes where the governing valuation provision is applied retrospectively to reflect legislative intent. A self-occupied property was therefore to be taken at the wealth-tax value. For a wholly let-out commercial property, valuation had to follow the rental capitalisation method, allowing the recognised statutory deductions for municipal taxes, repairs and collection charges, and capitalising the net annual letting value. A separate addition for speculative future construction potential was not justified where the property was already let out and not in the accountable person's possession. The estate duty valuation was to be recomputed accordingly. Case-Laws Income Tax Fri, 10 Apr 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67969