https://www.taxtmi.com/caselaws?id=7040 The court upheld the assessment of the property's fair market value at Rs. 50,000 for wealth tax purposes, rejecting the assessee's claim to restrict it to Rs. 25,000 due to an ongoing legal dispute over ownership. The court emphasized that as long as the assessee claimed ownership, the property had to be valued accordingly, ruling against the assessee and ordering them to pay the department's costs. en-us Fri, 23 Sep 1966 00:00:00 +0530 Sun, 08 Feb 2009 10:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7040 The court upheld the assessment of the property's fair market value at Rs. 50,000 for wealth tax purposes, rejecting the assessee's claim to restrict it to Rs. 25,000 due to an ongoing legal dispute over ownership. The court emphasized that as long as the assessee claimed ownership, the property had to be valued accordingly, ruling against the assessee and ordering them to pay the department's costs. Case-Laws Wealth-tax Fri, 23 Sep 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7040