https://www.taxtmi.com/caselaws?id=326341 The Tribunal allowed the appeals in WTA 52/D/2007 and WTA 53/D/2007, concerning the disallowance of liabilities in relation to building assets. The Tribunal held that liabilities could be deducted on a pro-rata basis, referencing relevant legal principles. The AO was directed to allow appropriate deductions for all three years under appeal. However, in WTA 51/Del/2012, the disallowance of property tax deduction was upheld as the assessee did not press the ground during the appeal. The order was pronounced on 29th February 2016. en-us Fri, 29 Jan 2016 00:00:00 +0530 Wed, 13 Apr 2016 10:02:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=326341 The Tribunal allowed the appeals in WTA 52/D/2007 and WTA 53/D/2007, concerning the disallowance of liabilities in relation to building assets. The Tribunal held that liabilities could be deducted on a pro-rata basis, referencing relevant legal principles. The AO was directed to allow appropriate deductions for all three years under appeal. However, in WTA 51/Del/2012, the disallowance of property tax deduction was upheld as the assessee did not press the ground during the appeal. The order was pronounced on 29th February 2016. Case-Laws Wealth-tax Fri, 29 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=326341