https://www.taxtmi.com/caselaws?id=7675 The court determined the total value of the property leased to Jayanthilal Thakoor at Rs. 1,48,441, with the assessee's interest valued at Rs. 74,219, correcting the valuation methodology by accounting for depreciation and future possession rights. In the case of the property leased to Indian Bank, the market value was concluded at Rs. 2,00,000, with the assessee's share valued at Rs. 1,00,000, favoring the correct valuation approach of capitalizing annual rental value. The court ruled in favor of the assessee on property valuation issues while deciding in favor of the revenue on the assessment of the assessee's status as an 'individual' for the year 1963-64. en-us Wed, 03 Dec 1969 00:00:00 +0530 Tue, 17 Mar 2009 12:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7675 The court determined the total value of the property leased to Jayanthilal Thakoor at Rs. 1,48,441, with the assessee's interest valued at Rs. 74,219, correcting the valuation methodology by accounting for depreciation and future possession rights. In the case of the property leased to Indian Bank, the market value was concluded at Rs. 2,00,000, with the assessee's share valued at Rs. 1,00,000, favoring the correct valuation approach of capitalizing annual rental value. The court ruled in favor of the assessee on property valuation issues while deciding in favor of the revenue on the assessment of the assessee's status as an 'individual' for the year 1963-64. Case-Laws Wealth-tax Wed, 03 Dec 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7675