https://www.taxtmi.com/caselaws?id=21107 The court ruled in favor of the assessee, emphasizing that for wealth-tax assessment, the reversionary value of the tenanted property should not be included in the market value of the building. The court highlighted the importance of valuing properties based on the multiplier method using contract rent and net income for tenanted buildings, considering the constraints posed by Rent Acts. It concluded that in cases where rent enhancement or eviction is unlikely, valuing the property based on contract rent and net income is appropriate, rejecting the inclusion of imaginary reversionary value in such assessments. en-us Fri, 08 Jan 1993 00:00:00 +0530 Fri, 20 Nov 2009 11:02:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21107 The court ruled in favor of the assessee, emphasizing that for wealth-tax assessment, the reversionary value of the tenanted property should not be included in the market value of the building. The court highlighted the importance of valuing properties based on the multiplier method using contract rent and net income for tenanted buildings, considering the constraints posed by Rent Acts. It concluded that in cases where rent enhancement or eviction is unlikely, valuing the property based on contract rent and net income is appropriate, rejecting the inclusion of imaginary reversionary value in such assessments. Case-Laws Wealth-tax Fri, 08 Jan 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21107