https://www.taxtmi.com/caselaws?id=25307 In wealth-tax valuation, the Court upheld the Tribunal's adoption of a combined land-and-building and rental capitalisation approach for theatre property because no error of law, statutory breach, or legal misdirection was shown. It also held that where two valuation methods produce different figures, the Department is not bound as a rule of law to choose the lower figure; the controlling requirement is a fair and reasonable valuation. The Tribunal's valuation method and rejection of a mandatory lower-valuation rule were therefore sustained. en-us Thu, 16 Jul 1987 00:00:00 +0530 Wed, 27 Jan 2010 17:57:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25307 In wealth-tax valuation, the Court upheld the Tribunal's adoption of a combined land-and-building and rental capitalisation approach for theatre property because no error of law, statutory breach, or legal misdirection was shown. It also held that where two valuation methods produce different figures, the Department is not bound as a rule of law to choose the lower figure; the controlling requirement is a fair and reasonable valuation. The Tribunal's valuation method and rejection of a mandatory lower-valuation rule were therefore sustained. Case-Laws Wealth-tax Thu, 16 Jul 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25307