https://www.taxtmi.com/caselaws?id=207799 The High Court upheld the Revenue's position in an appeal under Section 27A of the Wealth Tax Act, determining that interest on the security deposit should be added to the annual rent for fair market value computation. The decision favored the Assessing Officer's inclusion of interest at 14% per annum on the security deposit to calculate the annual rent, aligning with Rule 5 of Schedule III. The judgment clarified the procedural application of valuation rules and affirmed the relevance of interest on security deposits in determining fair market value. The appeal was resolved in favor of the Revenue, with no costs awarded. en-us Wed, 16 Nov 2011 00:00:00 +0530 Tue, 20 Dec 2011 15:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207799 The High Court upheld the Revenue's position in an appeal under Section 27A of the Wealth Tax Act, determining that interest on the security deposit should be added to the annual rent for fair market value computation. The decision favored the Assessing Officer's inclusion of interest at 14% per annum on the security deposit to calculate the annual rent, aligning with Rule 5 of Schedule III. The judgment clarified the procedural application of valuation rules and affirmed the relevance of interest on security deposits in determining fair market value. The appeal was resolved in favor of the Revenue, with no costs awarded. Case-Laws Wealth-tax Wed, 16 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207799