https://www.taxtmi.com/caselaws?id=9384 The Tribunal upheld the valuation of a multi-storeyed building for wealth tax assessment based on market rent over rent receivable, emphasizing the assessing authority's discretion to determine rent receivable to prevent tax evasion. The Court affirmed the decision, clarifying that market rent should be considered for wealth tax valuation, even if it differs from actual rent, to uphold statutory provisions and prevent manipulation of rental values. The judgment underscores adherence to Wealth-tax Act rules and market realities in asset valuation for taxation purposes. en-us Fri, 18 Mar 2005 00:00:00 +0530 Mon, 22 Jun 2009 16:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9384 The Tribunal upheld the valuation of a multi-storeyed building for wealth tax assessment based on market rent over rent receivable, emphasizing the assessing authority's discretion to determine rent receivable to prevent tax evasion. The Court affirmed the decision, clarifying that market rent should be considered for wealth tax valuation, even if it differs from actual rent, to uphold statutory provisions and prevent manipulation of rental values. The judgment underscores adherence to Wealth-tax Act rules and market realities in asset valuation for taxation purposes. Case-Laws Wealth-tax Fri, 18 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9384