https://www.taxtmi.com/caselaws?id=392614 The High Court of Bombay dismissed the appeal challenging the valuation of property for wealth tax assessment under the Wealth Tax Act, 1957. The Court upheld the Tribunal's decision, emphasizing the importance of considering actual sale events post the valuation date in determining the market value of assets. The judgment highlighted adherence to legal provisions allowing assessing officers to estimate asset prices based on hypothetical sales and prevailing circumstances, ultimately affirming the logical and judicial approach taken in valuing the property for wealth tax purposes. en-us Thu, 30 Jan 2020 00:00:00 +0530 Mon, 24 Feb 2020 10:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392614 The High Court of Bombay dismissed the appeal challenging the valuation of property for wealth tax assessment under the Wealth Tax Act, 1957. The Court upheld the Tribunal's decision, emphasizing the importance of considering actual sale events post the valuation date in determining the market value of assets. The judgment highlighted adherence to legal provisions allowing assessing officers to estimate asset prices based on hypothetical sales and prevailing circumstances, ultimately affirming the logical and judicial approach taken in valuing the property for wealth tax purposes. Case-Laws Wealth-tax Thu, 30 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392614