https://www.taxtmi.com/caselaws?id=12376 The High Court held that the valuation of life interest in family trusts under the Wealth-tax Act should be determined solely by applying rule 1B of the Wealth-tax Rules, rejecting the use of the actuarial method. Emphasizing the mandatory nature of rule 1B for uniform valuation, the Court ruled in favor of the Revenue, citing consistency and avoidance of disparities in valuation methods as key reasons. Consequently, the reference was disposed of in favor of the Revenue and against the assessee. en-us Wed, 19 Jun 2002 00:00:00 +0530 Tue, 23 Feb 2010 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12376 The High Court held that the valuation of life interest in family trusts under the Wealth-tax Act should be determined solely by applying rule 1B of the Wealth-tax Rules, rejecting the use of the actuarial method. Emphasizing the mandatory nature of rule 1B for uniform valuation, the Court ruled in favor of the Revenue, citing consistency and avoidance of disparities in valuation methods as key reasons. Consequently, the reference was disposed of in favor of the Revenue and against the assessee. Case-Laws Wealth-tax Wed, 19 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12376