https://www.taxtmi.com/caselaws?id=17802 For tenanted commercial property subject to rent-control restrictions, valuation under the rent capitalisation method already reflects the combined value of the land and the building as it stands and the rent it is likely to fetch. The reversionary value of the land cannot be added again, because that would duplicate land value merely on the assumption of a future availability of the site. The Punjab and Haryana High Court thus upheld the assessees' valuation method and answered the reference against the Revenue on the valuation issue. en-us Fri, 09 Aug 1996 00:00:00 +0530 Thu, 24 Sep 2009 18:09:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17802 For tenanted commercial property subject to rent-control restrictions, valuation under the rent capitalisation method already reflects the combined value of the land and the building as it stands and the rent it is likely to fetch. The reversionary value of the land cannot be added again, because that would duplicate land value merely on the assumption of a future availability of the site. The Punjab and Haryana High Court thus upheld the assessees' valuation method and answered the reference against the Revenue on the valuation issue. Case-Laws Wealth-tax Fri, 09 Aug 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17802