https://www.taxtmi.com/caselaws?id=68246 The Tribunal treated the assessee's 12-times valuation multiple for the let-out portion of the building as reasonable on the facts and rejected the Revenue's higher valuation approach, resulting in recomputation in the assessee's favour. It also applied section 7(4) of the Wealth-tax Act, 1957 on a retrospective basis, holding that the value adopted for the self-occupied property in assessment year 1971-72 would govern the subsequent assessment years as well. The assessee's valuation was therefore substantially accepted and the assessments were directed to be revised accordingly. en-us Fri, 19 Mar 1982 00:00:00 +0530 Mon, 28 Mar 2011 16:27:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68246 The Tribunal treated the assessee's 12-times valuation multiple for the let-out portion of the building as reasonable on the facts and rejected the Revenue's higher valuation approach, resulting in recomputation in the assessee's favour. It also applied section 7(4) of the Wealth-tax Act, 1957 on a retrospective basis, holding that the value adopted for the self-occupied property in assessment year 1971-72 would govern the subsequent assessment years as well. The assessee's valuation was therefore substantially accepted and the assessments were directed to be revised accordingly. Case-Laws Wealth-tax Fri, 19 Mar 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68246