https://www.taxtmi.com/caselaws?id=15591 The High Court of Madras ruled in favor of the assessee in a dispute over the valuation of a property for wealth tax assessment. The Court upheld the application of rule 1BB for valuation, emphasizing its procedural nature and alignment with legal precedents. It rejected the Revenue's arguments against the rule's applicability, affirming that rule 1BB should be considered in valuation proceedings in accordance with the Finance Act, 1983, and Supreme Court precedents. The judgment clarified the role of rule 1BB in ensuring uniformity in property valuation practices. en-us Thu, 29 Apr 1999 00:00:00 +0530 Wed, 26 Aug 2009 12:10:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15591 The High Court of Madras ruled in favor of the assessee in a dispute over the valuation of a property for wealth tax assessment. The Court upheld the application of rule 1BB for valuation, emphasizing its procedural nature and alignment with legal precedents. It rejected the Revenue's arguments against the rule's applicability, affirming that rule 1BB should be considered in valuation proceedings in accordance with the Finance Act, 1983, and Supreme Court precedents. The judgment clarified the role of rule 1BB in ensuring uniformity in property valuation practices. Case-Laws Wealth-tax Thu, 29 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15591