https://www.taxtmi.com/caselaws?id=20452 For a fully let out property, where acquisition-compensation material is unavailable or unreliable, market value should ordinarily be determined by the rental method, using capitalised annual rent as the safest guide to what a willing purchaser would pay. On the facts noted, the property was occupied by tenants and the record did not show how acquisition compensation had been fixed or how landlord and tenant interests were apportioned, so the rental method was approved. The valuation could also be taken on the Tribunal's figure, with liberty to the Wealth-tax Officer to adopt a higher value if the rental method and evidence justified it. en-us Wed, 09 Jun 1993 00:00:00 +0530 Sat, 14 Nov 2009 10:48:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20452 For a fully let out property, where acquisition-compensation material is unavailable or unreliable, market value should ordinarily be determined by the rental method, using capitalised annual rent as the safest guide to what a willing purchaser would pay. On the facts noted, the property was occupied by tenants and the record did not show how acquisition compensation had been fixed or how landlord and tenant interests were apportioned, so the rental method was approved. The valuation could also be taken on the Tribunal's figure, with liberty to the Wealth-tax Officer to adopt a higher value if the rental method and evidence justified it. Case-Laws Income Tax Wed, 09 Jun 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20452