https://www.taxtmi.com/caselaws?id=12603 The Tribunal upheld the Commissioner's decision for the assessment year 1984-85, applying rule 1BB for valuation. For subsequent years, the property's value was determined based on its market value as of March 31, 1984. The Tribunal set aside the Commissioner's order for 1985-86 to 1987-88 and upheld the Revenue's appeal, valuing the property at Rs.15,86,143 for each of these years. The judgment favored the assessee, emphasizing the significance of market value and statutory provisions in property valuation under the Wealth-tax Act. en-us Fri, 14 Sep 2001 00:00:00 +0530 Wed, 20 May 2009 14:01:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12603 The Tribunal upheld the Commissioner's decision for the assessment year 1984-85, applying rule 1BB for valuation. For subsequent years, the property's value was determined based on its market value as of March 31, 1984. The Tribunal set aside the Commissioner's order for 1985-86 to 1987-88 and upheld the Revenue's appeal, valuing the property at Rs.15,86,143 for each of these years. The judgment favored the assessee, emphasizing the significance of market value and statutory provisions in property valuation under the Wealth-tax Act. Case-Laws Income Tax Fri, 14 Sep 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12603