https://www.taxtmi.com/caselaws?id=11820 A rent-capitalisation valuation based on ten times the net annual rent was treated as a reasonable method for determining market value, and the Tribunal's approach was upheld because no infirmity was shown. A deduction of Rs. 50,000 from fair market value was also allowed where the amount had been voluntarily disclosed and invested in the construction of the house property, and the exemption provision protected such disclosed assets from inclusion in net wealth for the relevant years. The overall position favoured the assessee, with both the valuation method and the claimed deduction sustained on the stated facts. en-us Thu, 14 Feb 2002 00:00:00 +0530 Tue, 09 Feb 2010 17:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11820 A rent-capitalisation valuation based on ten times the net annual rent was treated as a reasonable method for determining market value, and the Tribunal's approach was upheld because no infirmity was shown. A deduction of Rs. 50,000 from fair market value was also allowed where the amount had been voluntarily disclosed and invested in the construction of the house property, and the exemption provision protected such disclosed assets from inclusion in net wealth for the relevant years. The overall position favoured the assessee, with both the valuation method and the claimed deduction sustained on the stated facts. Case-Laws Wealth-tax Thu, 14 Feb 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11820