https://www.taxtmi.com/caselaws?id=221708 The Tribunal set aside the orders of the Ld. CIT(A) for assessment years 2002-03 to 2005-06 in a wealth tax appeal involving jointly owned land. The Tribunal emphasized the importance of accurately determining land value based on the valuation date and criticized the methodology used by tax authorities. It directed the assessing officer to reassess the market value considering factors like location and development potential, highlighting the need for a comprehensive approach. The assessees were instructed to assist in determining the market value on each valuation date. en-us Fri, 15 Feb 2013 00:00:00 +0530 Mon, 25 Mar 2013 10:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221708 The Tribunal set aside the orders of the Ld. CIT(A) for assessment years 2002-03 to 2005-06 in a wealth tax appeal involving jointly owned land. The Tribunal emphasized the importance of accurately determining land value based on the valuation date and criticized the methodology used by tax authorities. It directed the assessing officer to reassess the market value considering factors like location and development potential, highlighting the need for a comprehensive approach. The assessees were instructed to assist in determining the market value on each valuation date. Case-Laws Wealth-tax Fri, 15 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221708