https://www.taxtmi.com/caselaws?id=78876 The High Court held that the assessee firm is entitled to consider Rs. 36,61,625 as the cost of the land for computing its profits, aligning with the valuation accepted by the Wealth Tax Authorities. The second question regarding evidence of money being charged was not pressed and left unanswered. The issue of deduction of Rs. 3 lakhs paid to individuals was not specifically addressed in the judgment. The High Court ruled in favor of the assessee on the primary issue of land valuation. en-us Mon, 06 Sep 2010 00:00:00 +0530 Mon, 17 Dec 2012 16:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=78876 The High Court held that the assessee firm is entitled to consider Rs. 36,61,625 as the cost of the land for computing its profits, aligning with the valuation accepted by the Wealth Tax Authorities. The second question regarding evidence of money being charged was not pressed and left unanswered. The issue of deduction of Rs. 3 lakhs paid to individuals was not specifically addressed in the judgment. The High Court ruled in favor of the assessee on the primary issue of land valuation. Case-Laws Income Tax Mon, 06 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=78876