https://www.taxtmi.com/caselaws?id=70445 The Tribunal allowed the appeals for statistical purposes, directing the Assessing Officer to reevaluate the assessees' interests in the partnership firms in accordance with rules 3 to 7 of Schedule III. The Tribunal held that the valuation of the factory buildings should be based on market value rather than the rent capitalization method, as argued by the assessees. The decision emphasized the application of Schedule III for the assessment years in question and the proper methodology for valuing interests in firms and global business assets. en-us Thu, 04 Jul 1996 00:00:00 +0530 Sat, 16 Apr 2011 11:55:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70445 The Tribunal allowed the appeals for statistical purposes, directing the Assessing Officer to reevaluate the assessees' interests in the partnership firms in accordance with rules 3 to 7 of Schedule III. The Tribunal held that the valuation of the factory buildings should be based on market value rather than the rent capitalization method, as argued by the assessees. The decision emphasized the application of Schedule III for the assessment years in question and the proper methodology for valuing interests in firms and global business assets. Case-Laws Wealth-tax Thu, 04 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70445