https://www.taxtmi.com/caselaws?id=26026 The High Court upheld the Tribunal's decision in a case concerning the valuation of a property, ruling that the market value should be based on gross sale proceeds without deductions for expenses. The additional payment for floor space index was also not eligible for deduction. The Court emphasized that post-valuation date events cannot be considered in determining market value. The High Court's role in reference matters is advisory, not appellate. The Tribunal's decision was supported, cautioning against unnecessary referrals to the High Court when answers are clear from legal precedents. The assessee was directed to bear the proceedings' costs. en-us Fri, 06 Dec 1985 00:00:00 +0530 Tue, 02 Feb 2010 13:14:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26026 The High Court upheld the Tribunal's decision in a case concerning the valuation of a property, ruling that the market value should be based on gross sale proceeds without deductions for expenses. The additional payment for floor space index was also not eligible for deduction. The Court emphasized that post-valuation date events cannot be considered in determining market value. The High Court's role in reference matters is advisory, not appellate. The Tribunal's decision was supported, cautioning against unnecessary referrals to the High Court when answers are clear from legal precedents. The assessee was directed to bear the proceedings' costs. Case-Laws Wealth-tax Fri, 06 Dec 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26026