https://www.taxtmi.com/caselaws?id=27497 The High Court upheld the Tribunal's valuation of the property using the rent capitalization method for tax assessment purposes. The Court ruled that both land and building method and rent capitalization method are valid for determining fair market value, even if the property is not subject to rent control laws. It emphasized that the Tribunal's choice of valuation method should not be overturned as long as a recognized method was applied, as appeals are limited to questions of law under the Income Tax Act. The appeals were dismissed, affirming the Tribunal's valuation decision. en-us Wed, 07 Mar 1984 00:00:00 +0530 Sat, 13 Feb 2010 12:16:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27497 The High Court upheld the Tribunal's valuation of the property using the rent capitalization method for tax assessment purposes. The Court ruled that both land and building method and rent capitalization method are valid for determining fair market value, even if the property is not subject to rent control laws. It emphasized that the Tribunal's choice of valuation method should not be overturned as long as a recognized method was applied, as appeals are limited to questions of law under the Income Tax Act. The appeals were dismissed, affirming the Tribunal's valuation decision. Case-Laws Income Tax Wed, 07 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27497