https://www.taxtmi.com/caselaws?id=6535 The Supreme Court remanded the case for rehearing, emphasizing the book-value in the balance-sheet as the primary basis of valuation for fixed assets in wealth-tax assessments. The court clarified that adjustments can be made as necessary, with the written down value initially serving as the basis of valuation. The judgment stresses the importance of adhering to statutory provisions and legal precedents in determining the value of fixed assets for taxation purposes. en-us Thu, 07 Aug 1969 00:00:00 +0530 Fri, 05 Dec 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6535 The Supreme Court remanded the case for rehearing, emphasizing the book-value in the balance-sheet as the primary basis of valuation for fixed assets in wealth-tax assessments. The court clarified that adjustments can be made as necessary, with the written down value initially serving as the basis of valuation. The judgment stresses the importance of adhering to statutory provisions and legal precedents in determining the value of fixed assets for taxation purposes. Case-Laws Wealth-tax Thu, 07 Aug 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6535