https://www.taxtmi.com/caselaws?id=27491 For rented property valued in acquisition proceedings, fair market value may properly be determined on the rental capitalisation basis rather than the land-and-building method. The Court treated rental capitalisation as a recognised and approved valuation approach for property in tenant occupation, supported by legislative recognition and judicial precedent. On the facts, the rental-based valuation remained below the apparent consideration, and the Tribunal had not recorded any firm contrary finding on fair market value from the material before it. The decision indicates that such valuation will not be displaced in appeal without a clear contrary finding showing a higher market value. en-us Mon, 05 Mar 1984 00:00:00 +0530 Sat, 13 Feb 2010 12:06:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27491 For rented property valued in acquisition proceedings, fair market value may properly be determined on the rental capitalisation basis rather than the land-and-building method. The Court treated rental capitalisation as a recognised and approved valuation approach for property in tenant occupation, supported by legislative recognition and judicial precedent. On the facts, the rental-based valuation remained below the apparent consideration, and the Tribunal had not recorded any firm contrary finding on fair market value from the material before it. The decision indicates that such valuation will not be displaced in appeal without a clear contrary finding showing a higher market value. Case-Laws Income Tax Mon, 05 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27491