https://www.taxtmi.com/caselaws?id=184509 In assessing the rateable value of self-occupied recently constructed premises, the authority must apply the hypothetical tenant test, keep the valuation within the ceiling of standard rent, and consider comparable premises in the same or adjoining locality to avoid irrational disparity between old and new properties. A municipal body cannot decline to follow these legal principles on the ground of administrative inconvenience or lack of machinery to collect comparative material, because the valuation function remains quasi-judicial and must be exercised in accordance with law. The Supreme Court therefore set aside the High Court judgments and remitted the matters for fresh determination of rateable value under the governing principles. en-us Wed, 26 Apr 2000 00:00:00 +0530 Mon, 11 Jul 2016 17:17:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184509 In assessing the rateable value of self-occupied recently constructed premises, the authority must apply the hypothetical tenant test, keep the valuation within the ceiling of standard rent, and consider comparable premises in the same or adjoining locality to avoid irrational disparity between old and new properties. A municipal body cannot decline to follow these legal principles on the ground of administrative inconvenience or lack of machinery to collect comparative material, because the valuation function remains quasi-judicial and must be exercised in accordance with law. The Supreme Court therefore set aside the High Court judgments and remitted the matters for fresh determination of rateable value under the governing principles. Case-Laws Indian Laws Wed, 26 Apr 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184509