https://www.taxtmi.com/caselaws?id=5456 SC held rule 1BB of the Wealth-tax Rules is procedural/evidentiary, not altering substantive rights; it merely prescribes a recognised method (capitalisation of income on years' purchase) among accepted valuation modes for residential house property to ensure uniformity and avoid disparate valuations. The rule deems market value arrived at by that method and may raise an irrebuttable presumption yet remains within evidence law. High Courts' conclusions affirmed and the appeals dismissed. en-us Thu, 22 Sep 1994 00:00:00 +0530 Thu, 16 Oct 2025 17:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5456 SC held rule 1BB of the Wealth-tax Rules is procedural/evidentiary, not altering substantive rights; it merely prescribes a recognised method (capitalisation of income on years' purchase) among accepted valuation modes for residential house property to ensure uniformity and avoid disparate valuations. The rule deems market value arrived at by that method and may raise an irrebuttable presumption yet remains within evidence law. High Courts' conclusions affirmed and the appeals dismissed. Case-Laws Wealth-tax Thu, 22 Sep 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5456