https://www.taxtmi.com/caselaws?id=70720 The Tribunal held that Section 7(4) of the Wealth-tax Act applied to the property, allowing the assessee to freeze its valuation for the relevant assessment year, even if not occupied by the owner for the entire 12 months, as long as it was intended for residential use. Rule 1BB was also deemed applicable for valuing properties used mainly for residential purposes. The department's appeal was dismissed, and the assessee's cross-objection and appeals were allowed for the specified assessment years. en-us Thu, 10 May 1984 00:00:00 +0530 Mon, 18 Apr 2011 17:39:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70720 The Tribunal held that Section 7(4) of the Wealth-tax Act applied to the property, allowing the assessee to freeze its valuation for the relevant assessment year, even if not occupied by the owner for the entire 12 months, as long as it was intended for residential use. Rule 1BB was also deemed applicable for valuing properties used mainly for residential purposes. The department's appeal was dismissed, and the assessee's cross-objection and appeals were allowed for the specified assessment years. Case-Laws Wealth-tax Thu, 10 May 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70720