https://www.taxtmi.com/caselaws?id=20736 The High Court ruled in favor of the Revenue, stating that the Commissioner of Wealth-tax was justified in invoking section 25(2) of the Act. The Court emphasized that the value of the asset should be determined based on the rents, issues, and profits derived from the investment, rather than the initial acquisition cost. This decision reaffirmed the importance of assessing ownership rights and assets comprehensively in wealth tax evaluations. en-us Thu, 31 Jan 1991 00:00:00 +0530 Mon, 16 Nov 2009 18:36:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20736 The High Court ruled in favor of the Revenue, stating that the Commissioner of Wealth-tax was justified in invoking section 25(2) of the Act. The Court emphasized that the value of the asset should be determined based on the rents, issues, and profits derived from the investment, rather than the initial acquisition cost. This decision reaffirmed the importance of assessing ownership rights and assets comprehensively in wealth tax evaluations. Case-Laws Wealth-tax Thu, 31 Jan 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20736