https://www.taxtmi.com/caselaws?id=27728 The High Court affirmed the Income-tax Appellate Tribunal's decision, upholding the valuation principles applied for property assessment under the Income Tax Act. The Court found no errors in the determination of assessable profit and capital gain on the sale of the property, ruling in favor of the assessee against the Revenue. The Tribunal's method of capitalizing net rental income at 20 times with a 5% yield was deemed appropriate, and the Court upheld the valuation of the property at Rs. 5,00,000 based on past records and rent control regulations. en-us Mon, 23 Jul 1984 00:00:00 +0530 Mon, 15 Feb 2010 16:47:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27728 The High Court affirmed the Income-tax Appellate Tribunal's decision, upholding the valuation principles applied for property assessment under the Income Tax Act. The Court found no errors in the determination of assessable profit and capital gain on the sale of the property, ruling in favor of the assessee against the Revenue. The Tribunal's method of capitalizing net rental income at 20 times with a 5% yield was deemed appropriate, and the Court upheld the valuation of the property at Rs. 5,00,000 based on past records and rent control regulations. Case-Laws Income Tax Mon, 23 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27728