https://www.taxtmi.com/caselaws?id=354514 The Court dismissed the appeal, upholding the ITAT's decisions on both issues. The valuation of the property for Wealth Tax assessment was resolved in favor of the assessee based on the interpretation of "rent received or receivable" under Wealth Tax Rules. Additionally, the inclusion of the Mercedes Benz Car in the net wealth calculation was decided in favor of the assessee due to the funding and maintenance arrangement with a foreign principal. The Court affirmed the ITAT's rulings, emphasizing the specific circumstances and legal interpretations presented during the proceedings. en-us Wed, 24 Jan 2018 00:00:00 +0530 Thu, 08 Mar 2018 14:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354514 The Court dismissed the appeal, upholding the ITAT's decisions on both issues. The valuation of the property for Wealth Tax assessment was resolved in favor of the assessee based on the interpretation of "rent received or receivable" under Wealth Tax Rules. Additionally, the inclusion of the Mercedes Benz Car in the net wealth calculation was decided in favor of the assessee due to the funding and maintenance arrangement with a foreign principal. The Court affirmed the ITAT's rulings, emphasizing the specific circumstances and legal interpretations presented during the proceedings. Case-Laws Wealth-tax Wed, 24 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354514