https://www.taxtmi.com/caselaws?id=214213 The Tribunal allowed the assessee's appeal, reversing the valuation of urban land determined by lower authorities and deleting the additions made. It held that the valuation should be based on the agreement with M/s DLF Universal Ltd. and the rules in Schedule III, part 'D' of the Wealth-tax Rules. The Tribunal emphasized considering the advantages and disadvantages of the property in valuation, contrary to the market-based approach taken by the lower authorities. The decision was pronounced in open court on 25.1.2012. en-us Wed, 25 Jan 2012 00:00:00 +0530 Thu, 21 Jun 2012 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214213 The Tribunal allowed the assessee's appeal, reversing the valuation of urban land determined by lower authorities and deleting the additions made. It held that the valuation should be based on the agreement with M/s DLF Universal Ltd. and the rules in Schedule III, part 'D' of the Wealth-tax Rules. The Tribunal emphasized considering the advantages and disadvantages of the property in valuation, contrary to the market-based approach taken by the lower authorities. The decision was pronounced in open court on 25.1.2012. Case-Laws Wealth-tax Wed, 25 Jan 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214213