https://www.taxtmi.com/caselaws?id=15647 Valuation of land for wealth-tax purposes was treated as a factual matter where the land stood exempted from the Urban Land Ceiling Act and a 10 per cent deduction had been allowed for restriction on alienation. The Tribunal upheld the wealth-tax valuation on the basis that compensation principles under the ceiling law did not apply to exempt land, and accepted the deduction for the imposed alienation restriction. The challenge was held to raise no error in valuation principles, being a pure question of fact, so no reference was warranted and the petition was dismissed. en-us Thu, 25 Jun 1998 00:00:00 +0530 Wed, 26 Aug 2009 16:38:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15647 Valuation of land for wealth-tax purposes was treated as a factual matter where the land stood exempted from the Urban Land Ceiling Act and a 10 per cent deduction had been allowed for restriction on alienation. The Tribunal upheld the wealth-tax valuation on the basis that compensation principles under the ceiling law did not apply to exempt land, and accepted the deduction for the imposed alienation restriction. The challenge was held to raise no error in valuation principles, being a pure question of fact, so no reference was warranted and the petition was dismissed. Case-Laws Wealth-tax Thu, 25 Jun 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15647